North America to Drown in Oil as Mexico Ends Monopoly

tsetsaf wrote:
You do note in the article the mention that refineries are at capacity? Oil prices will not and can not drop below about $75 per barrel. Below that number and all of the US based oil production from sands and shale will no longer be profitable. We will not see fuel prices below $3 per gallon in any reasonable time frame. As for us we budget for $5 per gallon and are happy with anything less

On Bloomberg this morning it was stated that Mexican Crude Oil benchmark price has been sat at $85 per barrel. Canadian Tar Sands production cost is $65 per barrel and with transportation cost profit is $5.50 per barrel at the Mexican benchmark.

rocmoc n AZ/Mexico