Are you claiming $/barrel it is not in line with shale production?
It has significant risk, but the big boys don’t spend those billions because they lose money compared to the Eagle Ford or Permian Basin.
I”m claiming you are using a static analysis for an industry that is dynamic and not static. You are also using historical data for a business that is forward looking. Looking forward, with reasonable assumptions about technologies and restrictions and so on, not to mention deposits, and increased efficiencies of scale, it is not a fraud to call this technology “relatively low cost.”