Saudi oil i believe costs $10 a barrel to extract a big difference from the 60 and up from most shale projects.
I wouldn’t necessarily believe either stat. I could believe 10 for already developed fields and maybe the 60 for undeveloped, but once it is flowing, all bets are off. Sounds more like a disinformation analysis by the speculators as I have heard of many established fracking fields are closer to the 10 than the 60.
“Saudi oil i believe costs $10 a barrel to extract a big difference from the 60 and up from most shale projects.”
That’s not their problem. Their problem is that they’ve loaded up their Visa by all their capital spending and they need high-priced oil to pay off their debt. So if we need $60 to be self-sustaining, so be it. That’s a whole lot better than the $100 plus we’ve been paying w/o fracking. The ragheads also have a problem in that when their oil is gone, they have nothing to support themselves with.