It's true that the cost per barrel for fracking was around $100 10 years ago when it was a brand new technology. Shockingly the technology has been improved over the last ten years bringing the average cost below $50/ barrel. The beautiful thing abut this style of oil extraction is that it's relatively easy to shut down when prices are low and can be quickly brought back online when the price makes it profitable. The bad part for the US is that these wells deliver a light sweet crude that most of our refineries are not set up to turn into gasoline. Plus they have the troublesome side effect of producing massive amounts of natural gas we're not ready to handle, but I believe they are successfully coming up with solutions of this problem too.