re: Oil hit $21 and has momentarily stabilized at 21-22. FoxBiz: Could go to $0

Banks will end up owning these assets and as they really don't want to manage them and won't be able to continue managing active drilling programs the production will decline rapidly. Some of these shale oil wells are 65% plus first year decline. Throw in sub $40 oil which looks to be here for quite a while even if we only stay in the teens or 20's for a few months and there is no economic incentive to drill any shale oil wells. The best parts of the Bakken and Eagleford are heavily drilled up leaving only some of the Permian left. The US industry is going back to a few majors and some really small private independents drilling small conventional wells. The biggest winners if they can survive the next 6-8 months may be US natural gas drillers as the huge drops in associated oil natural gas production will rebalance the gas markets.