How could gas prices go down when, outside the Middle East, the cost of production for the most expensive new fields is around $100 per barrel?
How could gas prices go down when, outside the Middle East, the cost of production for the most expensive new fields is around $100 per barrel?
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That number is too high for the USA. the highest cost in the USA are about 80 @ barrel. Production costs scale down to 50@barrel. But the learning curve is steep and over a couple years they get in efficiencies that reduces costs
10-30@barrel.