Oil Drop Makes Drillers Own Worst Enemy as Gas Offers Haven
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U.S. oil producers that saw profits soar on the North American shale boom are feeling the downside of success: falling prices and shrinking cash are threatening to slow development.
At the same time, as crude prices approach four-year lows, natural gas companies are experiencing a reversal of fortune after having been shunned by many investors when a supply glut drove the fuel to a decade-low. Gas producers are now viewed as a safer haven than oil companies.