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US Shale Production To Soar By 3.5 Million Barrels/Day Over Next Five Years: BofA Explains Why

Shale oil output in the US may grow significantly over the next five years due to increased activity in oil rigs and fast productivity gains, Bank of America predicts. The key reason: breakeven costs for key major US plays now stand around the $55/bbl mark. Assuming a gradual recovery in oil prices, annual US shale oil growth is expected to rise by 700 thousand b/d annually by 2022: a total increase of 3.5mmbpd.

Maryland Considers Teaching Kids That Boys Are Presumed Guilty In Rape Accusations

"Affirmative consent" is a fuzzy concept even for adults, which is why one of them taught 10th graders in California that they must say 'yes' every 10 minutes during sex or it becomes rape. The concept was enshrined in state law in October 2015, and since then California has remained the only state to legally require "yes means yes" be taught in public schools. Maryland could soon be the second...

The Mother Of All Financial Bubbles: "This Is The Very Definition Of Unsustainable"

"The Fed is desperately seeking to keep the status quo in place, praying that somehow things turn out OK, and clearly scared to death behind the scenes. But, just like the officials at Oroville, when the cameras are on her, Yellen smiles and tells us that all is well... But when these bubbles burst, and they must, it will be a massively destructive event. There will literally be nowhere to hide from the repercussions."

Frontrunning: February 17

  • ‘In Trump We Trust’ Is Market Mantra as Turmoil Besets White House (BBG)
  • World stocks lose momentum after record-breaking week (Reuters)
  • As Tax Debate Heats Up, Lawmakers Struggle to Think of a Plan B (WSJ)
  • Mnuchin Warned as G-20 Sees New Economic Order (BBG)
  • Deutsche Bank examined Donald Trump's account for Russia links (Guardian)
  • Stop hurling insults and listen, Pope Francis tells politicians (Reuters)

Media Silent As Mystery Illness Plagues Residents One Year After Historic US Gas Leak

A year after the largest methane leak in U.S. history was sealed in Porter Ranch, California, residents are continuing to experience significant adverse health consequences. As SoCalGas - the company responsible for the blowout - uses fabricated gas shortages to justify reopening the Aliso Canyon gas storage facility, which has been shut down indefinitely since the leak occurred, a local doctor is now speaking out.

Mike Flynn Faces "Legal Jeopardy" For Reportedly Lying To FBI

Anonymous intelligence officials claim that former National Security Adviser Michael Flynn's denial to The FBI in an interview last month that he had discussed sanctions with the Russian ambassador is a lie and contradicts the contents of intercepted communications they have collected.

Futures, European Shares Stumble After Massively Overbought World Stocks Hit Record High

Whether it is due to overnight news that much of the recent rally may have been due to one specific fund's cover of a synthetic "short SPY" trade, or just because algo traders have gotten a case of overbought robotic vertigo, S&P futures dropped 0.2% in early Thursday trading as risk appetite fizzled and European shares dropped on concern the longest rally since July 2015 went too far, while the yen, bonds and gold advanced as the dollar fell.