Forum Discussion
LindsayRichards
Apr 06, 2013Explorer
By the way, what does it cost to product a barrel of oil?
A new generation 6 offshore drilling rig costs $750 MILLION and about that again to equip. That is before the first drop comes up. Exploration costs are added into the cost of the raw material. Shell Oil has spent over $4 1/2 BILLION trying to get it's first well drilled off of NW Alaska. There is much cheaper oil available that is proven and much cheaper to get, but off limits. We as the buyer of the fuel end up paying the full bill for everything.
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