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Obviously I'm no expert here, but I assume it's quibbling over the definition of "recoverable". Of course recoverable oil depends highly on the price. I remember reading a couple years ago that Saudi was intentional flooding the market with an eye toward driving shale production out of business. Guess that didn't work out for them (who could have guessed?).
Yeah that fucked Saudi Arabia, Russia and Venezuela. Meanwhile, shale oil extraction is a lot less stationary; you can turn the rigs off, let 'em sit, liquidate 'em, refurbish 'em and deploy 'em at a whole new shale field when the price is high enough again.