'..Keep in mind that the marginal cost for efficient U.S. shale-oil producers is about $10 to $20 a barrel in the Permian Basin in Texas and about the same for oil produced in the Persian Gulf.'<blockquote>'Last month, Wood Mackenzie, an energy research organization, found that of 2,222 oil fields surveyed worldwide, only 1.6 percent would have negative cash flow at $40 a barrel. That suggests there won't be a lot of chickening out at $40. Keep in mind that the marginal cost for efficient U.S. shale-oil producers is about $10 to $20 a barrel in the Permian Basin in Texas and about the same for oil produced in the Persian Gulf.'
- A. Gary Shilling,
Get Ready for $10 Oil, February 16, 2015</blockquote>
Context<blockquote>
Oil target bandwidth price: $20 - $40) - '..shale oil .. remains commercially viable .. below $42..'(Energy Revolution) - '..the U.S. grid is less reliable and older than the German one..''America must lead, but mainly by example .. Most importantly, invest the savings to build a secure, dynamic, and prosperous America that others want to emulate.'</blockquote>