The purported “objective” of this (big oil price fall primarily via Saudis) was/is to put the squeeze on the Russians over the Ukraine but the little side benefit to the greenies and demonrats is going to be the crushing (as has been done before) of the investment/capital structure of oil exploration and production in the US in this cycle...
On the positive side, there’s probably been enough wells put in that it will only be a matter of turning them on so to speak when the price begins rising.
On the positive side, there’s probably been enough wells put in that it will
only be a matter of turning them on so to speak when the price begins rising.
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I’m sure there are lots of shut in wells that can be brought online as needed.
The decline curve for shale wells is very steep. If they stop drilling New wells the abundant supply of hydrocarbons will disappear pretty fast.