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That's simply not true. If you talk to any drilling engineer, you'll know that drilling costs are higher now than they were just 10 years ago. Also, geologists are paid more, pipelines to transport the oil cost more. Finding costs and production costs have risen over the years.

Yes it is true. Drilling costs are higher because the oil that is being drilled is a lot more difficult to get at. But, if we were drilling the same oil as we were 15 years ago, the costs would be less.

That's not true... because it still takes people. Their salaries are higher. The cost of equipment is higher. Federal regulations have added cost. Production equipment sitting on the well costs more. And on and on. You can't say it only costs more to drill because oil is more difficult to find. That's just not accurate.