Hi all, I find it a curiosity that people think that shale will disappear in a puff of smoke. I think OPEC thought that also, not going quite to plan me thinks. Almost all countries and companies need oil, I would say at a very slender minimum $70, just survive. Shale can and will survive at $70 thanks to the Saudi's they have created a rod for their own back by pushing shale to get better at everything they do. There are several OPEC nations that need oil nearer $100 to balance their budgets.
Shale will contract definitely, will it contract enough to shift the price, maybe, I think its far more likely that the Saudi's staring the collapse of OPEC in the face may just shift the goal posts slightly at some point.
DB
Can STO survive, page-223
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