The U.S. is on track to become the world's biggest oil producer, pumping out more crude than at its peak nearly a half century ago. For decades, few expected such a comeback, and it's all the more remarkable because the price of a barrel of oil is nowhere near what it was during the last, recent boom. "This is an incredible statement, but we're probably making more money at fifty dollars a barrel than a hundred," says Kirk Edwards, president of Latigo Petroleum in Midland, the de facto oil capitol of West Texas. Downtown, not far from Edwards' office, a big LED sign flashes the going price of a barrel of oil. A few years ago, when the number was over 100, rigs were going up everywhere across the state's Permian Basin, as drillers made crazy money. Then came a crash, courtesy of the Organization of Petroleum Exporting Countries. "OPEC was trying their best just to slam the door on what was going on here by flooding the oil markets," says Edwards. "They did a phenomenal job." Companies
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