I personally don't expect any large gains in the price per barrel with all the new oil coming on line however any significant drop would be short lived. Its simple,shale oil is costly to produce, if the prices received fall the drilling is cut back. Kodiak could cut way back since land is all held by production, or will be very soon.
If the drillers do cut back then the price will likely see a big spike up as it takes time to build back up. I would see low 80s as a floor and $100 to $105 as a ceiling for some time to come. That is a very sweet range for the BEAR
Did he happen to mention abummer's "War on Coal"? Coal, which fired many electric plants. Oil and gas will have to make that loss up, and the conversion will not be pleasant. "Supply and Demand" has always been the best indicator for me; and demand will not be decreasing anytime soon. Supply had better keep up!
I forgot to ad that I am sure many of you will believe you are smarter then Wilbur Ross AND have better connections to the really smart business people then Wilbur will give this post a thumbs down. And we all know Wilbie will because he is smarter than Wilbur and all his cronies.