Analyst: Impossible for Saudis to destroy U.S. shale industry

Because of its mid-cost nature, compared to the high cost of conventional drilling, shale will rebound quickly, according to Daniel Yergin, founder of IHS Cambridge Energy Research Associates, who said groups are already in place to grab the assets of bankrupt U.S. shale drillers.

“The management may change and the companies may change but the resources will still be there,” Yergin told the Daily Telegraph. Continue reading