Yahoo Finance: Not Even Higher Oil Prices Can Save U.S. Shale
Mar 23, 2020 | News Roundup
March 22 — The U.S. shale industry is burning through cash so fast that even the state of Texas is looking at government rationed production targets.
Texas Railroad Commissioner Ryan Sitton laid out his idea in an article for Bloomberg Opinion, proposing the commission institute a 10 percent production cut. It would mark the first time since the 1970s that the Railroad Commission regulated production.