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When Can We Call the U.S. Shale Boom a Bubble?

Photographer: Maciej Toporowicz
Photographer: Maciej Toporowicz

The millennials are coming to the oil patch. It's the latest sign of frothiness after a prolonged period of otherwise rational exuberance in the U.S. oil and gas sector.

Consider Griffin Perry, 30, a former banker and Texas Governor Rick Perry's son. Perry and partners at Grey Rock Energy Partners are taking minority stakes in shale wells. They've raised $40 million so far, and Perry has threatened to grow a mustache if that number hasn't hit $200 million by August.