Why are futures outlook bleak when shale oil production is winding down

The newest information is that US oil manufacturing is winding down as a consequence of depletion of oil within the Permian Basin. (The ostriches who nonetheless assume we now have oil for 200 years can bury their head deeper within the sand searching for it)

I'm oil shares however see that many of the oil futures look bleak. I used to be initially considering of simply shopping for a few oil ETFs and allow them to do their factor, however their expense ratios are approach too excessive (1-2%). If i purchase a bunch of oil shares am i able to anticipate them to carry out roughly the identical as oil turns into scarcer sooner or later?