Meridian Energy Group announced Tuesday it is starting site construction for the Davis Refinery near Theodore Roosevelt National Park.

Emerging from the downturn, optimism from Bakken-industry players highlights why most see the play as another opportunity waiting to happen.

"Oil production from the U.S. is very resilient, particularly from shale production," said Bielenis Villaneuva Triana, a senior analyst at Rystad Energy.

“If something cannot go on forever, it will stop,” according to Herbert Stein, former chief economist to U.S. President Richard Nixon (“What I think: essays on economics, politics and life” 1998).

EDGARTOWN, Mass. (AP) — The Obama administration approved limited crude oil trading with Mexico on Friday, further easing the longstanding U.S. ban on crude exports that has drawn consternation from Republicans and energy producers.

It is too late for OPEC to stop the shale revolution. The cartel faces the prospect of surging US output whenever oil prices rise.

The collapse of crude oil prices in 2014 was a big surprise, but popular explanations quickly circulated. Most attributed the collapse to changes in supply and/or demand.

LONDON – Oil held above $64 a barrel on Wednesday before a U.S. government report expected to show domestic crude inventories fell for an eighth week, a sign that a supply glut is easing.

This time last year, he said, wells that were yielding 3,000-3,500 were considered “very good.” But innovation has occurred since then, which suggest re-fracking may be feasible.

North Dakota posted a surprising jump in oil and natural gas output in March, as producers leaned on newer technologies and processes to offset a slump in commodity prices.

There is little sign of a bust in America’s shale basins, where horizontal drilling and hydraulic fracturing (fracking) have led to a boom in oil and gas production in the past five years.