And US frackers have done more for US foreign policy than Obama/Hillary "Smart Diplomacy" - Granite Grok

And US frackers have done more for US foreign policy than Obama/Hillary “Smart Diplomacy”

frackingby simply out-working and out-innovating everyone else:

Few predicted that in the fall of 2014, when Saudi Arabia signaled that it wouldn’t curb its output to put a floor under crude prices. Oil pundits concluded that a brutal culling would force higher-cost players known as marginal producers—a group that includes shale drillers—out of the market.

But the greatest consequence of the Saudi decision and subsequent price drop is that it has delayed costly oil megaprojects, from deep-water platforms off Angola to oil-sands mines in Canada.

“The U.S. isn’t the marginal barrel but the most flexible,” said R.T. Dukes, an analyst at Wood Mackenzie. “We’ll be the fastest to snap back.”

And the lesson that Obama, Hillary, and the rest of the Democrat Socialist sad sacks will never ever (want to) learn:

Free markets tend to do that

Sure, some frackers did go under but many just shuttered more costly wellheads and continued to figure out how to get more out for less.  Indeed, it is the American way – just kill them with productivity. That is, until Government gets in the way (either by just being too big or, in the case of this Obama Administration, deliberately)

(H/T: Instapundit)

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