[Baynative]

How can this be true? We’ve had over 100,000 people working in the Department of Energy to lessen our dependency on Foreign Oil for over 50 years!

[thackney]

[Toddsterpatriot]

more than $1 trillion in wealth was transferred from the United States to OPEC members in the form of oil payments between 2005 and 2012.

More than $1 trillion in wealth was transferred from OPEC members to the United States in the form of oil between 2005 and 2012.

[Laurent.w]

Outside the Middle East, the marginal cost of oil skyrockets, so do OPEC oil export revenues.

Bernstein Research estimated that the non-Opec marginal cost of oil production - the cost of production for the most expensive new fields - rose to $104.50 a barrel in 2012, up more than 250% from $30 a barrel in 2002.

The most expensive oil fields essentially set the floor of oil prices, worldwide.

And for every $10 increase per barrel of oil price, OPEC's earnings soar by around $100 billion per year.