“I am tired of hearing about the unbelievable impact of technology on collapsing U.S. shale production costs. The truth is that these claims are unbelievable. The savings are real but only about 10% is from advances in technology. About 90% is because the oil industry is in a depression and oil field service companies have slashed prices to survive.”
The zerohedge article he responds to can be found here: http://www.zerohedge.com/news/2017-03-21/how-opec-lost-war-against-shale-one-chart .