Social-Economics, like that in the EU, is what will keep American Oil in production - at some point the local jobs even in globalization are not exported but brought home in order that money can be kept inside the country. OPEC welcomes oil from new sources, because they could be investing heavily rather than competing. This is the Epic Fail of Opec in that they tried to corner the market(s), rather than be an investment player in all of them.
That might be true of some of OPEC, but the player that matters, Saudi Arabia, has been building one of the largest refinery/petrochemcial complexes in the world for many years in Jubail.