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"Shell’s New Permian Play Profitable At $20 A Barrel"

I'm no expert, but this news from "The No. 1 Source for Oil & Energy News" seems like great news for U.S. consumers and a really big deal.

OPEC’s worries about the booming U.S. oil production have increased significantly with the big three oil companies’ interest in shale. Exxon Mobil Corp., Royal Dutch Shell Plc, and Chevron Corp., are planning $10 billion of investments in shale in 2017, a quantum jump compared to previous years. All the naysayers who doubted the longevity of the shale oil industry may have to modify their forecasts.

OPEC lost when they pumped at will as lower oil prices destroyed their finances, and now they are losing their hard-earned market share as a result of cutting production. Shell’s declaration that they can “make money in the Permian with oil at $40 a barrel, with new wells profitable at about $20 a barrel” is an indication that Shell is here to stay, whatever the price of oil.

Related: January New York Times piece, "Land Rush in Permian Basin, Where Oil Is Stacked Like a Layer Cake".