Is the oil industry in big trouble?

I think most of these small shale firms are going bankrupt. From what I hear, the production and refining of shale oil was never really profitable. The whole thing is built on debt to build assets that can be used to access more money. The whole wealth-building game now is to turn everything into assets. You see the same thing going on with major investors buying up American trailer parks. They buy it and send it to the management business, so you have a nice asset. That's one reason I've never really been into the stock market. It's a hell of a lot simpler + less risky to build an asset than to gamble about stocks. The only time I ever invest in stocks is when I see some sort of asset class being formed or now with major players like Exxon, Mobil, etc. being able to purchase all the small shale companies operations and a year from now being able to make a massive profit if oil get really expensive.