RE:RE:RE:Supply/Demand outcomes...You mention Prudhoe bay. My brother is an engineer with Conocophilips in the Prudhoe Bay field. He does many things up there but the big thing he does is work on recoverable barrels.
I have read that the field was 25 billion barrels and about 12 billion has been recovered thus far. In mid 2000's, 2006 BP said they had 2 billion recoverable left with current technology.
What the majors are doing is looking to get at that remaining 10 billion barrels.
If my Brother and cohort can squeez out say another 10% that is a Billion barrels that is lot's of zeroes on it with $100 oil.
There is a theory in Technology that says the transformational ability of technology is so high that the human mind can not conceptual the power of a C change discovery.
In the oil biz just look at fracing, look at what it has done to the Permian. One could argue the President's new found power is, the world power relationship with oil. Trump can bring out the heavy stick because they are pumping 11 million barrels a day, and you could through in 4 million a day from Canada bought at a discount
The petro dollar kids.
Simply unlocking shale oil has tranformed geo politics in the last 10 years. And you thought oil was just a supply and demand commodity. Silly rabbit, cheers Matthew