Government should subsidize the shale industry now. That’ll bankrupt OPEC and make SA a rotting cesspool once again.
Then once oil is so cheap nobody can compete nor care to compete, unsubsidize it and let the market correct itself. After all, the sheiks are doing this now. Why not do the same?
The Saudi’s are not subsidizing their oil production. In order to do that they would have to have another source of revenue and they really don’t. They just have a greater supply and a cheaper cost of production than most of their competitors.
No. Absolutely not.
“Government should subsidize the shale industry now. “
I propose a different tack rather than warping the free market; create a ban on oil derived from areas that have terrorist control Every transport ship that wants to sell oil to the US should first have the chemical composition of the crude analyzed prior to pumping out the oil. If it is shown to come from an area where terrorists can get the money the oil would be confiscated.