Let’s just assume that they can’t hit USD 15 but rather 20, or even 25. That would still be massive progress towards a world where antics from the leftover oil cartel will be smiled at, at best. Shale is not at the bottom of the hole by damn sight. Companies like EXXON pump cash and also a lot of scaling expertise into it. Compare that to wildcatters being those who break the wheel and establish new procedures and techniques in order to open up a new resource, and companies like EXXON bring in their massive machine, take those techniques and technologies and build an optimized monster that will shake the world. Assume now, they really hit the UDS 15 target. That would mean that US oil will be among the cheapest on earth and the US energy position is only limited by the size of the reserves.
Exxon Mobil Corp. plans to reduce the cost of pumping oil in the Permian to about $15 a barrel, a level only seen in the giant oil fields of the Middle East.