The reason for falling oil prices explained (maye)
Interesting article on Bloomberg today SEE IT HERE
Forum Discussion
Hahaha!!! Not even close to accurate. Although a couple of years old, here are the numbers direct from the National Energy Administration:
Cost to get a barrel of oil out of the ground by DRILLING (not fracking) ----
Middle East - Lifting cost - $9.89, Finding Cost - $6.99 = Total cost per barrel - $16.88
USA - Lifting Cost - $12.28, Finding Cost - $21.58 = Total Cost per barrel - $33.76
Let's not delude ourselves into believing the oil companies (and the Saudis) aren't making gobs of money @ $80/bbl! They are just not making what they are used to making!
Cost to get a barrel of oil out of the ground by DRILLING (not fracking) ----
Middle East - Lifting cost - $9.89, Finding Cost - $6.99 = Total cost per barrel - $16.88
USA - Lifting Cost - $12.28, Finding Cost - $21.58 = Total Cost per barrel - $33.76
Let's not delude ourselves into believing the oil companies (and the Saudis) aren't making gobs of money @ $80/bbl! They are just not making what they are used to making!
JAXFL wrote:
The Saudi's can drop oil prices down to teh $60 area and still breakeven,
