Is shale oil a sustainable business model?

Encyclopedia of Opinion

Question: Is shale oil a sustainable business model?
Position1 of 3›: Shale oil is not economical except at extremely high prices

Shale oil and natural gas are extremely capital intensive, and buying land, drilling and extracting the oil is far more expensive than drillers will admit to. Proof of this is that we have seen hundreds of shale oil companies go bust and almost no shale oil companies produce any free cash flow.

Supporting arguments · 1

Shale oil companies have gone bust, many repeatedly
Hundreds of defaults and billions of dollars of defaulted bonds show that the shale oil business model was not sustainable.