[Owen]

“

“Some 98 percent of crude oil and condensates from the United States have a breakeven price of below $80 and 82 percent had a breakeven price of $60 or lower,

IOW words, $60 may kill the industry about 1/2 dead.”

Misunderstanding. That’s the entire oil industry’s breakeven price.

The industry I’m referring to that gets killed 1/2 dead at $60 is the shale oil industry. Not the entire country’s oil flow. Just shale, the current poster child for bright future.

[conservatism_IS_compassion]

That is certainly an argument for imposing an import tax on petroleum, and using the revenue to promote energy security by either increasing the SPR or by subsidizing shale oil production.

There is also the issue of Keystone XL to consider, tho . . . Maybe we can consider ourselves “energy independent” on a continent basis, without reference to the Canadian border.

How does shale NG play into this equation? Isn’t that cheaper energy - for stationary uses, at least - than Saudi crude?

[conservatism_IS_compassion]

In any case, “Peak Oil” is dead.