My take is that there is a truly massive amount of US "unconventional" O&G, and the current glut is from their low-hanging fruit. But there isn't a huge amount of that (mainly the Bakken), and when it's gone then they get into the expensive stuff. So while we may have very cheap oil for a while, absent very significant technology increases it won't stay that cheap. No idea on timing, though.
Lattice Energy, page-15
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