The US will drill less new wells at $50 than we would at $100, but some drilling will continue. Just as drilling continued the last time we were at $50, just a few years ago.
We probably won’t be drilling any new wells at $50 a barrel,
but there’s nothing the Saudis can do about the ones that are already in production -
UNLESS
they can get their leftwing buddies in the US gov’t to pull some regulatory mumbo jumbo on them.
The US will drill less new wells at $50 than we would at $100, but some drilling will continue. Just as drilling continued the last time we were at $50, just a few years ago.