They have been in a world of hurt before and while I understand that they don’t like that very much, they must also understand that this is the best that could happen to them. Biden gives them a continuous workout which means they must constantly outperform his antics. Shale has already given OPEC more than a bloody nose in an epic standoff and came out stronger than ever before. Biden can piss them off. he can harass them but there will be state governors that won’t let him. Biden will be gone soon – shale won’t.
U.S. shale drillers are incurring record labor and equipment costs so they can cash in on the highest oil prices in 14 years.