Shale Boom Over

Morgan Stanley analysts met in Houston recently with representatives of the oil and gas industry. They conclude that the oil boom is over because it has become more efficient.  Operators and service companies are in agreement on "the need to use the current crisis to resolve many of the inefficiencies that have developed through the good times." Many of the new technologies and approaches used in the recovery of oil and shale gas would not have gained such rapid acceptance without the downcyle based on low oil prices.