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Shale is not economically viable, regular oil is profitable at 10 dollars a barrel, shale needs 60 dollars or more. That is an extreme difference that we are no

Shale is not economically viable, regular oil is profitable at 10 dollars a barrel, shale needs 60 dollars or more. That is an extreme difference that we are not feeling because of massive amounts of credit pumped into the shale boom. Once the fake money dries up and the market prices that shale oil at its correct value you are in for a world of pain. Imagine the gas a the pump station going x6 and that affecting the rest of the economy. That is a world based on shale instead of conventional oil.

YouCanDoBetter 5y ago
Shale is profitable because oil prices per barrel hit over 100$ in the 2000s. It's our answer to the OPEC oil cartel, and the reason they dumped all their oil for pennies on the dollar at the start of Covid - "This time we'll REALLY drive shale out of business and we can raise prices again in 5 years!!!" Today from a cursory google, oil prices per barrel are over 70$. Fortunately for our society we subsidized it to survive this brief period.