Shale developers are the tardigrades of the energy industry by now. They are essentially unkillable. You can dry them, freeze them, treat them with hard radiation and deep vacuum. They just go into hibernation and once conditions go back to not outright nasty, they spring back to life. So, Russia and Saudi will have to keep it up forever. They can burn up their reserves now for some time and when those are gone and they need to go back to something more sustainable, they will find shale rejuvenated and with more bite than ever. But I am not complaining. This is a great workout for the healthy ones and a death event for the sickly ones which will make shale as a whole even stronger.
Find latest news from every corner of the globe at Reuters.com, your online source for breaking international news coverage.