[thackney]

I’ll share with you then number of well completed below $100 dollars.

I haven’t claimed all is fine. Several companies took on too much debt and depended on high prices that won’t happen at this time.

But that is far different than trying to claim hydraulic fracturing needed $100 to be profitable. Hundreds of thousands of wells were stimulated this way for decades when prices were under $100. It isn’t an opinion, it is history.

[Riflema]

Okay, I get that, there are plenty of well run, well capitalized companies exploring and producing uses these techniques. There are also dozens, maybe hundreds, of other operations that are neither. In this century wildcatter + easy money = problems ahead.

I'll try another approach: USA onshore discovery and extraction of oil has been getting more expensive in terms of effort and raw materials, not less. Of course, engineers regularly improve productivity at the margins, but in the big picture the cost/barrel curve point up. That is the very definition of declining productivity. I'm not a peak oil person, but surely we all know that US production is more expensive than say, Saudi, and over a timeframe of years that is not improving.