It is hard to believe how little the CNBC crew seems to understand about the oil business after talking about it endlessly for the last six months.
In the interview below with T Boone Pickens, the CNBC talking heads seem to think that the American shale producers have actually turned off production on existing wells. The reality is, of course, that they continue to produce from already completed wells, but what they are doing is reducing the drilling of new wells.
See if energy guru Pickens can make them understand.
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