The return of the US shale boom is very unlikely as most companies operating in the industry are set to face bankruptcies due to rising capital costs, Rick Rule, CEO of Sprott US Holdings, told RT’s Boom Bust.
Despite crude prices having already rebounded from April’s lows and being set to climb even higher, the rally will not change much for troubled American shale businesses, the analyst believes.
Watch: https://on.rt.com/ajf4