The United States shale industry’s era of “newfound prudence” could be coming to an end. After a devastating 2020 for U.S. oil, the mood in the shale sector has been historically reserved, with drillers focused on balancing their books and getting into the black before overextending with new exploration. This is out of the ordinary for the sector, as the boom and bust cycle of oil markets has long been an accepted and unavoidable part of the oil industry. “The oil industry is predictably cyclical: When oil prices climb, producers race to drill — until the world is swimming in petroleum and prices fall. Then, energy companies that overextended themselves tumble into bankruptcy,” The New York Times sets the scene . “That wash-rinse-repeat cycle has played out repeatedly over the last century, three times in the last 14 years alone. But, at least for the moment, oil and gas […]