Nonsense. Nobody can make money producing oil that’s selling for $25.
$25 oil would stop ALL U.S. oil production.
” “To keep shale busy and active and growing, you need to have $65 a barrel,””
http://www.ibtimes.com/oil-prices-plunge-layoffs-foreclosures-are-slamming-us-boomtowns-2267874
” Since the end of 2014, operating costs have fallen 31 per cent at its oil-sands business, helped by laying off almost a third of the company’s work force – all with the goal of being able to “make money” at $50 (U.S.) a barrel oil” (Oct. 01, 2016)
Oil prices need to be high enough to allow for profit, exploration and development, and produce many high paying JOBS!
We need refining capacity to process our light crude oil and many more trained workers in the fracking field.
We can be energy independent and RICH, but not on $25 oil.
Thanks to lower cost leases, the default of high priced producers and increased efficiencies $45 - $50 oil is the new price point (from all that I have heard). Please do an Internet search for the article “U.S. shale’s message for OPEC: above $40, we are coming back” as one example.