Well then, why is gas still so ridiculously expensive?
Indeed - a lot of people around here mumble about “global demand is up” and “the market is far larger now” ... such platitudes are supposed to answer the question, but fail. No one knows ...
Because tight formations like Shale are not cheap to produce. If the price dropped to half and stayed there, the US climbs in production rates would stop and start falling.
We have not come close to running out of oil, but cheap, easy oil is scarce.