[Blood of Tyrants]

Same, just add $1.44 to the profit side. See my post above.

[be4everfree]

So, does this mean the the real cost lies somewhere in between the cost of production and the spot market ?

Pump crude at $34 and sell it on the spot market for $70 ?

And it's different for each oil co. ?

Who's paying $70 ?

Are there any figures for how the increase in demand has forced more and more producers to the spot market ?

Is production up or down ?

Seems that the non-producers have obtained buyers willing to pay spot prices plus. (a riskless transaction)

As opposed to the risk of the exploration, production and delivery co's.

I remember when Dell Computer made more money in one particular quarter, (sometime in 1990 or 91) hedging foreign currencies than they did selling PC's.

Food for thought.