I lived in CO in the ‘70s and my father was a mining engineer. I have been hearing about shale for decades. “What will happen?” The same thing that happened in the ‘70s. When the Saudis realized we were considerng independence from their shenangans they dumped the price of oil. There really is no other explanation for seeral of the price moves on oil in the ‘70s. Nixon didn’t want us to realize the reason for the ‘73 rise in price was Saudi decison to “punish” th West for supporting Israel. Since they had artificially raised the price it was easy to artificially lower it when they realized we were about to develop shale.
Trust me, the closer we get to developing shale, the lower the price of oil will go.
Dam*, I really have to get a newkeyboard today, these sticking keys are making me look illiterate.