The cost I mentioned is compared to the minimal cost of essentially drilling a hole and capping the well, which is what the Saudis essentially have to do. Till now.
Fracking may be quite low-cost compared to deep sea drilling and some of the other high-cost ways of getting oil.
My only point is that fracked oil won’t be “cheap.” We’re very unlikely to go back to $20/barrel.
Tried to find some info on cost/barrel for fracked oil vs. Saudi production. Did not succeed. 95% of information easily available out there is just about how evil and inefficient in the long run fracking is.
IOW, it’s produced by opponents who just want ammo to stop the practice. They could conceivably be right, but there obvious bias means their info must be taken with a major dose of salt.
I dunno. My sense is that it might indeed happen.
"Tried to find some info on cost/barrel for fracked oil vs. Saudi production."
I suspect friend Thackney can probably clue us both in on those numbers.