In a new report, A.B. Bernstein analyst Bob Brackett looked at the boom and bust of the U.S. shale revolution.

Starting in 2006, U.S. gas supply grew 28 BCFD (44 percent), including explosive growth in Arkansas (341 percent), West Virginia (449 percent) and Pennsylvania (2,579 percent). In addition, from the end of 2012 to the middle of 2015, U.S. oil supply grew by 1 million BOPD annually. However, the U.S. finally reached the tipping point for production growth last week with growth crossing over into negative territory for the first time.

While the U.S. shale industry is far from out of the water just yet, Brackett sees…

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