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Shale Boom, Shale Bust: The Myth of Saudi America Suclass Code_3BL shares the twelve steps toJust about everyone has heard something about the revolution in shale oil. Hydraulic fracturing (fracking) of rock formations unique to the United States offers the promise of cheap and abundant energy, terrific economic growth and jobs. But in 2014, something went terribly wrong with this rosy scenario of 'Saudi America': A unexpected collapse in the price of oil thats bankrupting the oil patch, destroying jobs and threatening any plans of a