[Eva]

No it wont. Oil companies will slow production and stop all exploration at that price. Jobs will be lost and prices will rise. Oil companies are not going to cut their own throats by over producing.

There is a price below which shale oil is not profitable.

[MaxMax]

Don't blame the Oil, blame the over regulation of it. Cut that regulation
and lower barrel costs will still turn a hefty profit.

I also read somewhere that our sweet crude is sold, then repurchased at a higher cost.
Like placing it in ships in the Gulf for a week then bringing it back.

Oil is being made expensive, cut that expense and the Oil companies will
have no problems producing.