Break even on production does not fund the next play, nor the infrastructure to transport or refine it. It doesn't keep the stockholders happy, either.
Keep in mind, too, that oil is sold on a global market, the price set by buyer bid, not the seller.
49 posted on 02/01/2011 8:56:42 PM PST by Smokin' Joe
(How often God must weep at humans' folly. Stand fast. God knows what He is doing.)