[Erik Latranyi]

US producers of shale oil need crude to be priced only above US$50 to $65 a barrel for their operations to remain profitable.

This number is declining as the experience levels in extracting oil from various shale plays rises.

Of course, investment in R&D is lowering this price.

With the right leader, we could return to $30 per barrel prices within 10 years.....a price that would be far more stable than today's prices due to the reduction of imports from unstable countries.

[mamelukesabre]

I LOVE IT

Just think what a massive global supply of 30 dollar oil would do to the economies of the middle east OPEC tyrants! Now we need to jack up the prices of food, machinery, and construction materials and watch those scumbags starve to death.

[thackney]

This number is declining as the experience levels in extracting oil from various shale plays rises.

Yes, as the results of decades of experience with hydraulic fracturing combined the use of horizontal steerable directional drilling and multi-lateral taps, it has declined down to the relatively low numbers in the article, $50 ~ $65.

With the right leader, we could return to $30 per barrel prices within 10 years....

You are dreaming without knowledge.