Unless pumped-oil folks can fill the entire world demand at a price that makes process oil unprofitable, your point, while correct, is not relevant. Higher cost production (including shale) will continue to increase (as long as the polar bears aren't more important than people) until the price is driven down to the risk rate of return on the marginally most costly production alternative. This is, of course, confounded somewhat by time lags. But the market will push in that direction.
Not while there is cheap oil. Of course, gov't subsidy could equalize process oil and pumped oil, but until then nobody would choose shale over oil reserves if he had a choice. An oil company might do some pilot plant work just in case gov't subsidies come along later.