[thackney]

Dick Cheney said it best in about 2006 - a rational, sustainable market price for oil is about $40 per barrel.

In 2006, the US oil production was still falling, the shale oil fields production in its relative infancy, and we were far greater dependent on OPEC.

The oil industry is a different place than when Dick Cheney left Halliburton a decade and a half ago.

[rdcbn]

The domestic production boom stared in the US around 2005 when the price of oil crossed the $40-50 per barrel threshold.