[Sunnyflorida]

"In terms of extraction, Oils Sands Heavy oil is break even at cdn $29 per barrel in the pipe."

Sounds about right. The threat that a huge new source coming on line is why it has not happened in large quantities yet. If all that oil came on line north of $29 It would likely be the marginal supply that would drive the commodity to where it was a year ago. Opec aren't dummies. I'm sure they are operating on the marginal edge. Katrina produced great data. One of the best darn eco-labs ever. It drove my spouse crazy. I watched local prices like I usually do my trading tech stocks.

But you know that. This is the first thread where a few people actually understand economics. Refreshing.

[beaver fever]

"This is the first thread where a few people actually understand economics. Refreshing."

Yeah it's frustrating isn't it? It's not like the oil business is rocket science. All you have to do is read the news.

Being able to think outside the box doesn't hurt either.