That means OPEN THE BORDER!!!
Useful to remind in all these threads that there is nothing new here.
Horizontal drilling and fracking have been around 20+ years. The only thing that got them prominent was price. PRICE. Nothing else. Raise the price of gasoline at the tank high enough and you can “find” oil (that everyone has always known was there).
No, regulations didn’t stop it. Lack of investment stopped it. If the price is too low, you can’t make a profit drilling, so you don’t drill — and the absence of drilling will then send zealots screaming that “Obama won’t let them drill!!”. Truth is, get the price up and the drilling happens, regardless of Obama.
The Bakken’s output has been down in 2 of the last 3 months. There are increasing signs that it, as a field, will begin to die decades before the hype projections. These price dependent shale plays do not last. There are entirely too many people taking two or three years of data points and drawing a straight line through them upwards to infinity.