$50-60 New Normal or U.S Shale Bubble?, page-620

I don't know where the price of oil is going and am in for the long term also.
Strongly agree long term is the way to go, I am just speculating that the end may finally be in sight.
There are doubts about this new supply from the Permian, that perhaps the sweet spots are starting to see interference from over drilling.
This three stage casing is required because they are running through depleted areas increasing costs substantially and causing delays.
I agree there is new supply coming on from the U.S but the companies providing it are not making money like they claim and proven reserves are far less than they make out.
The Eagle Ford and the Bakken are already in decline, the Permian is certainly next.
The longer they can oversupply the market the bigger the bang when it goes pearshaped.
The worst case is that it becomes obvious in 2-3 years but the market is not stupid and already starting to ask inconvenient questions for the $50 New Normal narrative.
http://www.barrons.com/articles/pioneer-natural-resources-what-the-heck-just-happened-1501683103
As a long it's easy we can wait years, the shorters have to be smarter so I find it interesting to read their perspectives.