Oil May Have Risen Too Far Too Fast

As long as the financial needs of OPEC+ countries are way above the breakeven point of shale drillers, this one-two-punch combination is the best workout shale could ever have hoped for. Low price stints burn off the dead flesh, allow leaner and more innovative shale drillers to pick up the pieces and expand operations and the return of high prices leaves the flush with cash for more. Shale is a North American phenomenon because the legal, economical, logistical, and service elements are conducive to that. Plus, in the US there is no National Oil Company to keep all others down. Eventually, North America will want to market that know-how somewhere else. 

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