From a recent Wall Street Journal article:
“If OPEC or Saudi Arabia or anyone else wants to call” the US to curtail production, “there is no one to call,” said Amos Hochstein, coordinator for international energy affairs at the US State Department, in May. “You will have to call 4,000 companies operating in the United States as producers. For the first time, there is an element of real free market.”
Indeed. It’s about time, too. Now all we have to do is get rid of the export limits.