The distinction being made is in the technology required for OPEC wells. Conventional oil fields (most OPEC Wells) require the same tech that 19th century wells did. Just because you go a little deeper doesn&#x27;t change the tech.<p>I agree oil price played a major role in developing horizontal tech, but it&#x27;s become more about the cost being driven down and is why the U.S. is still doing it at $35 a barrel (which is, on a relative basis, the same as 10+ years ago). Either way I don&#x27;t think your point #2 works against anything I&#x27;ve mentioned.