This may cause a wave of bankruptcies in the U.S. oil industry

From Matt Badiali, Editor, Stansberry Resource Report:

A terrible bit of news went unnoticed in the commotion amid the modest rebound in oil prices over the past two weeks.

While every news outlet shouted about Iran and OPEC, a U.S. energy icon quietly announced news that could potentially shatter the industry.

As I’ve explained recently, many oil companies are teetering on the brink of bankruptcy. But news out of Alaska could lead to disaster.

BP Prudhoe Bay Royalty Trust (BPT) – operated by the Alaskan division of oil giant British Petroleum (BP) – sells oil from the Prudhoe Bay oilfield. It just announced a 65% drop in its economic oil reserves.

We’ll explain exactly what that means in a moment… but you can expect the numbers that the other area shale explorers release in the coming weeks will be even worse…

From 1968 to 2015, Prudhoe Bay was the most…

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