, Columnist
With Shale Oil Production Like This, Who Needs Trump?
OPEC has sorely underestimated the resilience of U.S. producers.
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The second coming of shale could be even more powerful than the first. OPEC seems to be getting caught unawares.
The current boom in U.S. oil production is even stronger now than the run from July 2011 to April 2015. And this is with oil prices at half their previous level and before President Donald Trump has done anything to meet his pledge to "lift the restrictions on American energy and allow this wealth to pour into our communities." Output growth could accelerate if prices rise, or costs fall further.