The question regarding whether we have reached peak oil demand is a pressing concern for U.S. upstream activity. U.S. tight oil’s current cost structure, which generally requires ~$50/barrel WTI to make it economically viable , suggests that oil demand needs to return to pre-COVID levels for U.S. shale to recover (Fig. 1). This article considers the industry’s ability to lower its cost structure further in order for it to maintain competitiveness. So precisely how can the well-touted U.S. industry’s ingenuity and willpower be brought to bear? The breadth of companies creates a robust laboratory of ideas. Further, as this essay details, there are several options the industry can pursue to lower its costs and/or raise productivity. It is also the case that lower prices yield savings for oil companies in terms of taxes and royalties worth several $/barrel [bbl]). However, it is also true that the realizing the next […]