* The US shale oil industry is rapidly shrinking, and dozens of companies face bankruptcies in the months and years ahead.
* But the coronavirus pandemic isn’t entirely to blame. The shale industry started slipping years before oil markets tanked, as producers accrued debt and failed to deliver strong returns.
* That’s according to Adam Waterous, the former head of investment banking at Scotiabank and founder of a $1 billion energy fund.
* US crude prices will have to near $70 a barrel for the shale industry to grow once again, according to his firm’s research.