The Long Term Perspective on Oil

I do think that the ingredients for another shale revolution, that period of time where what between call it 2014 and 2018, I view is very, very idiosyncratic. You had the confluence of just, you know, shale coming onto its own, coming into its own at a time where a lot of long cycle projects just got turned on. And so our model was very, very different. We always decide we would leave capital reallocation decisions to the equity holder. But the the reason why I have a very long term view on oil is that I think most of the best locations have been drilled out.

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