The American Oil Boom Won’t Last Long at $65 Per Barrel

It will take at least six months for cheap oil to sap U.S. output—and in the meantime oil from North Dakota and Texas will drive prices even lower.

OPEC’s idea is to try to knock out U.S. shale producers by driving prices lower than they can afford.

By Matthew Philips

Full Story: http://www.businessweek.com/articles/2014-12-01/can-the-us-fracking-boom-survive-with-oil-65-per-barrel#r=hp-sf