, Columnist
Peak Oil Spells Trouble for Consumers
Prices at the pump will probably rise in the coming years, thanks to Big Oil’s recent spate of unsatisfactory profits for investors.
What’s on the horizon?
Photographer: Matthew Busch/Bloomberg
This article is for subscribers only.
America’s shale industry is about to undergo its latest transformation, and this time, consumers aren’t going to come out on top.
Javier Blas visited Midland, Texas, the capital of the Permian Basin and an epicenter of US oil production. What he found there was an interesting consensus: Output will likely reach its peak in a few years and remain flat. That leaves the question of what a post-peak planet will look like — and right now it looks like shareholders are going to be the big winners of the shale slowdown.