Bad news for Russia. And there’s this:
…the US needn’t be too complacent either. The shale boom has been partly stoked by the same forces, which are now potentially waning. Oil prices have gone from $20-28 per barrel at the start of the decade to a sustained $100-$105 today. Right now, these prices are being held up by chaos in Middle East and Libya. If circumstances change, price shifts could give US drillers major headaches.
Oil over a hundred a barrel has always been unsustainable over the long haul.