Quote:
Originally Posted by Tron_fdc
True. Although if Biden actually banned fracking I’ve heard it reduces US output from 13 mbpd to something like 7mbpd which is massive. US would need to import oil again, and it would also drive the $/bbl up with that much lost production.
Even a Biden win with a democratic senate might play into Canada’s hands.
Theoretically
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Zero chance they ban fracking. More realistically they clamp down on flaring in the Permian and methane reduction regulations. Shale oil in the US will be impaired by massive decline rates and negative cashflow during the pandemic, their production will probably bottom around 10mbpd and struggle to hold that number without oil getting back to $50-60.