His argument is NOT that they don’t have the oil to frack; but that it is so remote and difficult to get to (Russia), or that they don’t have anywhere near the engineering know how to get it (everyone else), or that the military tensions in the regions make long-term investment there impossible or near impossible.
I said I disagree with his opinion regarding those issues. While true in some areas it’s not true in all of the world except the US.
Plus, Americans who know how to do this job will be richly rewarded in other places for their skills.
Capitalism is a wonderful thing.