[arthurus]

The market is functioning as the market will. The less efficient producers will shut down. More efficient methods will be designed to make profit at from lower input. The new generation of wells can be reactivated when the price comes back down or when they are graced with improvements. Improvement is occurring at a faster than ever pace. Petroleum, including gas,is transitioning in the market from being a limited resource to being a near ubiquitous mineral.

[mountainlion]

Striking workers at refineries tend to reduce demand and supply as well as the Saudis did in the 70s, maybe they are at it again.

[thackney]

The new generation of wells can be reactivated

Shutting down a new well can cause a lot of problems. This is rarely done unless intended not to return to production.