Saw this FoxNews OpEd "US can withstand Iranian attack on global oil supplies, thanks to Trump energy policies". The thing is, you need to thank Obama too, because his policies to keep oil prices high in the name of "green" allowed the Bakken reserve to open up.

Saw this FoxNews OpEd "US can withstand Iranian attack on global oil supplies, thanks to Trump energy policies". The thing is, you need to thank Obama too, because his policies to keep oil prices high in the name of "green" allowed the Bakken reserve to open up. (www.foxnews.com)

submitted by kono_hito_wa

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– kono_hito_wa [S] (2 points)

I'm not referring to fracking - I'm referring to horizontal drilling. It took sustained high oil prices to make the Bakken profitable. By the time oil prices started to fall, the technical improvements were keeping pace which allowed it to withstand the OPEC actions they hoped would kill the Bakken with lowered oil prices. From what I can tell, current break even is somewhere between $40-$65/barrel.

This article talks about the financial point I was making: https://archive.is/n86GG (it's from Al-Reuters).

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