Someone asked me why the North American Oil and Shale Gas Revolution didn't stall given declining oil and natural gas prices. What came to emy mind was resilency and seven other factors which taken together can explain why OPEC and Russia did not get their wish.
The most important factor is that Oil and Natural Gas can't just be looked at as a single commodity. The fact is, depending on where you drill a hole in North America's onshore shale basins, you will probably get oil and associated natural gas, natural gas and natura gas liquids (NGLs) or just natural gas. So a producer can rely on multiple revenue streams from all or a combination of these commodities or a portfolio of assets. Fortunately, each commodity's price is different and not exactly related. It also helps to have th infrastructure to process and refine these commodities and move them to markets in North America and abroad. Read more about Why the Oil and Natural Gas Shale Revolution is so Resilient