The sharp fall in oil prices threatens thousands of shale oil jobs, reportedly pushing an election-conscious White House toward considering federal assistance. Rather than fearing that a bailout will empower its shale-producing adversaries, OPEC+ should welcome one as a way of neutering the industry: a bailout will likely transform shale oil executives from dynamic entrepreneurs fixated on improving efficiency, to 21st-century robber barons who prefer to lobby congress for special favors.
Why OPEC should welcome a US shale-oil bailout
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