Shale fracking costs Vs. Oil price

It is more difficult to drill oil wells. 

Baker Hughes Rig Counts Vs. Shale Oil/Gas Production

When rig counts rise, shale oil and gas production rises.

Oil and Gas Decline Rates

Where is shale oil and gas coming from?

Novilabs shows the decline rates for oil and gas. 

Permian oil:

Permian gas:

Eagle Ford oil:

Eagle Ford gas:

Bakken oil:

Bakken gas:

Haynesville gas:

Shale oil production is not rising that fast anymore.

U.S. oil production is peaking.

Shale Gas Decline Rates Accelerating

This is why natural gas will go much higher. Shale gas production is flatlining due to high decline rates. 

We have a history to look at.

Gas prices should rise, including AECO gas.

Oil wells have been becoming gassier. As oil demand drops, oil supply will need to be cut with it and that will have a significant impact on natural gas supply dropping.

Gas production will not rise that fast anymore.

Live gas production can be followed here and here:

The U.S. will need to import Canadian natural gas.

Shale Gas Bankrupt

At $30/barrel oil, the whole shale gas complex is bankrupt.

If shale gas goes bankrupt, U.S.A. will not be energy neutral anymore. Trade deficits will probably skyrocket to above $1 trillion per annum.

 

All of this oil production will cease to exist.

Shale Gas Bust

A few weeks ago I posted this:

Now we know what happened to Whiting Petroleum and it's going to get worse, because GDP is falling, which means oil will fall, which means oil production will fall, which means shale gas companies will go bust, which means the U.S. trade deficit will go up.

Oil production is falling at the worst time for shale producers

Oil production is about to fall.

What will happen to Whiting Petroleum, Oasis Petroleum, Noble Energy, Devon Energy and most importantly, the U.S. trade deficit?