“Oil closed today at $77 per barrel.
It costs $78 per barrel to drill a horizontal fracking well in the Bakken oil field in North Dakota.”
I hope the price hasn’t been manipulated in order to make fracking unprofitable.
That is the entire reason. Stop America from being oil independent. They have their price now.
It is 2.43 in free states.
The Saudis have been increasing production for the last year.
Their wells break even around $10 per barrel.
OPEC has been manipulating oil prices for the last 40 years, and probably longer.