Fracking is expensive. Once they start that in the middle east it won’t be as easy for them to price American companies out of business.
Hydraulic Fracturing does not raise the cost to produce oil.
It lowers the cost per barrel of oil produced or it would not be done. It raises the cost per well, but the well produces more oil lowering the cost per barrel.
That said, this article is about a different technology.
Fracking is cheaper now than it was and will be cheaper next year than this and on and on. That’s how technology goes. Fracking has existed for a long time. The oil price got high enough and the tech got cheap enough that the two curves crossed and we started pulling up a lot of oil with it. The price drop and the rise is part of the seesaw that results from that process- the Market. I believe it will stay in the neighborhood of $60 for a while subject to war variables and the like but not so much now as before fracking. Then it will get cheaper and cheaper or, more likely, it won’t go higher as inflation drives everything else up. Just think, gasoline right now is cheaper than it was in the 50s when you consider what the dollar is worth now compared to then.