Undoubtedly costs of oilfield services have come down and this benefits shale/tight oil most .
One of the features of the tight oil revolution in the U.S. is the massive difference between the best acreage and everything else .
Up until recently the absolute best acreage was probably profitable enough to attract investment at $40 oil whereas the next best acreage would require perhaps twice that .
In such a scenario all OPEC have to do is wait till the sweet spots are drilled out and production will drop off .
The questions are how much more tier-1 acreage has been found and what improvements has technology wrought on tier-2 acreage .
The best management in the world cannot currently beat the geology .
End game to the oil rout, page-36
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