The first question is how much damage low oil prices will have caused America’s shale industry. Then the second and far more critical part of the test: as oil prices rise, will the shale industry limp or roar back? If it roars back, high oil prices are history. And shale oil production did decline; but so far only about 12% off the 2015 peak. Meanwhile, even during the glut-induced financial storm, shale technology just kept getting better.

Source: Forbes November 28, 2016 17:20 UTC