The fracking industry won’t go away or be delt a fatal blow with this downturn ?
Or the barrels a day production decline ?
The Oil and Gas industry had done hydraulic fracturing since 1940s. In winter 08~09, the oil price dropped to $35. It has bounced up and down over the decades. The industry will survive; not all companies and certainly not all jobs will survive.
Or the barrels a day production decline ?
The growth rate is going to slow down. If the price stays low long enough, it will stop climbing or start to decline.
But the technology won't go away and neither will the shale. It isn't the first downturn for the industry and won't be the last. If the rate falls enough, it will drive the prices up even faster.