High Country News, "Will falling oil prices kill the shale revolution?"

About 20 miles from the iconic Pueblo Bonito in Chaco Culture National Historical Park, and just a couple away from the elephantine hills that artist Georgia O’Keeffe dubbed “The Black Place,” two rows of tanks and an assortment of pipes interrupt the high desert. They’re painted forest green, perhaps to blend in, though almost everything here is the color of ash or burnished clay.

This is Chaco 2408 32P #114H, one of dozens of oil wells drilled in the last few years in northern New Mexico’s Gallup Sandstone, one of the nation’s newest “tight oil” plays. Chaco #114H and thousands like it in North Dakota, northern Colorado and Texas exist because of high oil prices, driven by demand from China and the developing world. But now, thanks in part to slower growth in China and the flood of U.S. oil, crude prices are falling. Though the resulting drop in gasoline prices benefits most sectors of the economy (average gas prices in New Mexico dropped below $3 this fall), it may dampen or even crush the shale oil revolution.
— https://www.hcn.org/issues/46.19/will-falling-oil-prices-kill-the-shale-revolution