No, I'm talking CRUDE V CRUDE.. to get a bbl of CRUDE out of the ground in Saudi Arabia it costs em about $5 A BBL.. to get a bbl out of the ground from shale runs about $20 a bbl... thats raw cost.
When the "tipping point" is truly reached, and the easy to extract oil is honestly running out (its not right now, in spite of the naysayers) and prices on that shoot up, and have no chance at all of going down, that is when things like SHALE extraction will become worth doing... or when technology finds a cheaper way to extract it... but no matter what it will NEVER be as cheap as pumping liquid right out of the ground.
Shale oil also has other issues, above and beyond extrating the oil from the rock.. Its NOT a panacea, but it is good to know its there, and will be there when the low hanging fruit runs out. But we aren't at that point yet.