[thackney]

It’s my understanding that unlike conventional oil wells, they are fairly easy to “turn on and off”.

Nobody spent 5~10 million dollars on putting in a new shale field well and shut it down because price fell to $50~60.

What is happening is far fewer wells are being drilled at this price.

[Sam Gamgee]

I was actually surprised to see that oil demand has continued to increase, 2008 being the only year it decreased. I would have thought with this bad economy we would see a dip.