” No company would have drilled with oil at $20 a barrel?”
and before I leave you to your ignorance...
in the 70’s we were only importing 20% of our oil;
so, genius, somebody in America must have been drilling that other 80% for less than $20 a barrel!
Class Dismissed!
Given that I am in the industry with an insiders view I'd say you are the one coming off quite ignorant and emotional. Here's atip for you. With each passing year each reservoir found is usually smaller and more difficult to get to, hence, more costly.