Shale Bubble?

This story makes me think so:

Mark Hiduke just raised $100 million to build his three-week-old company. This 27-year-old isn’t a Silicon Valley technology entrepreneur. He’s a Texas oilman.
The oil and gas industry is suddenly brimming with upstart millennials like Hiduke after decades of failing to attract and retain new entrants. Now that a breakthrough in drilling technology has U.S. oil and gas production surging, an aging workforce is welcoming a new generation of wildcatters, landmen, engineers, investors, entrepreneurs and aspiring oil barons.
“I’ve never seen an industry do what the oil and gas industry has done in the last 10 years,” T. Boone Pickens, the 85-year-old billionaire oilman, said in an April 25 phone interview from his Dallas office. “Ten years ago I could not have made this statement that you have picked the right career.”
Hiduke’s company, Dallas-based PetroCore LLC, received the $100 million commitment from a local private-equity firm in May. He and his three partners plan to buy underdeveloped land and drill shale wells, he said. They’ll draw on the expertise of their engineer, who, at 57, is old enough to be his father.
The shale boom has “created a lot of opportunity for young professionals to jump in and be given enormous responsibility,” Hiduke said by telephone May 6. “It’s pretty much tech and then energy.”
As oil and gas producers change their focus from grabbing land to drilling, young entrepreneurs are forming companies to trade everything from minerals to leases and wells to equities. They’re competing against, and sometimes collaborating with, industry veterans twice their age.
“These guys are going to be the poster children of self-made oil and gas tycoons,” Nathen McEown, a 33-year-old accountant at Whitley Penn LLP in Dallas who organizes networking dinners, said in an e-mail April 1. “Or they could be the poster children of how too much money is chasing deals.”

I'd wager on the latter.  Anytime you see stories like this, people are going to end up taking a bath.  I just know it won't be me.  This story from a few weeks ago strengthens my feeling that the story above is a contrary indicator.  Bloomberg also highlights this as a shale bubble story.  Or maybe it should be referred to as a greater fool story.