He sort of has a point in that there are some products (plastics, etc) that are only produced from crude oil. The problem is it's pretty doubtful that fracking

He sort of has a point in that there are some products (plastics, etc) that are only produced from crude oil. The problem is it's pretty doubtful that fracking would be worthwhile if that was the only demand - there's more than enough normal crude to produce plastics. As I understand it, most fracking isn't even profitable right now - it is only profitable if oil prices are relatively high.