You are totally wrong. No one can economically produce oil at less than $50, and extraction costs have fallen only because drilling stopped when oil dropped below the cost of finding it. What is being talked about is not full-cycle oil economics. Sure, if you have an existing field you might be able to drill a new well and extract oil at $50, but you will not be covering the cost of finding new production areas, and due to constant production declines you must ALWAYS be looking for new production. Nobody in the shale oil fields is making money. They survive by selling more stock and diluting your investment just to have the capital to continue drilling. I like inexpensive gasoline as much as the next guy, but all $30-$40 oil will do is insure that $130 oil will pop up again in the near future as no one will seek out new production at these low prices.
I believe your analysis of the economics of oil extraction costs and oil pricing are correct. So thanks for posting.
Unfortunately you are preaching to the normally astute Freepers who seem to have deaf ears on this subject. IMHO Trump wants energy independence and $60 (or so) oil and a few years free of Obama-Restrictions should deliver it.
Trump understands that calculation. So I expect him to pull it off. Sorry Saudi Arabia, you are just going to have to look elsewhere for customers.