Citi VelocityShares 3x Long Crude Oil S&P ETN (UWT)

[benfrankledger]

Disappointing U.S. oil production data last summer fueled a fever of "shale denial" theories in the blogosphere.

The more moderate versions suggested that U.S. shales require much higher oil prices to produce meaningful expansion.

The more radical theories - some falling in the "conspiracy" category - went as far as to suggest that E&P companies vastly misrepresent their well results and cost structure, and are completely financially irrational and irresponsible, whereas data reported by the U.S. Energy Information Administration (let alone its projections) cannot be relied upon.