Why $100 Oil Isn’t Going to Spark a New Shale Boom

When oil hit $55 per barrel in late 2025, the drilling and completions side of the industry surrendered. A few months later, war breaks out in Iran, and WTI climbs past $100. That’s a marker at which meaningful drilling should occur. Yet, that’s not what I’m hearing. Rising oil prices are all over the press and inside politics, but they’re not in the conversations I’m having with E&Ps and the service side. On Day Nine of “Epic Fury,” I was talking with a chemical supplier (I am the owner of a frac company…