The Oilfield Service Crunch Is Here

On March 9th, I wrote in an article for Oilprice.com titled “Why $100 Oil Isn’t Going to Spark a New Shale Boom.” My point, nine days into Operation Epic Fury, was that “No one—that I know—is carrying on much about the recent jump in prices, let alone cheering them on. Outside of thinking we'd better hedge, the response has mostly been a few words, a few shrugs, a ‘let’s take it while we can, attitude. Our collective reaction would surprise outsiders, but…was normal to me. It’s also normal…