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To: 9thLife

I don’t know what it costs to produce a barrel of oil, I’ve heard around $35. Anyhow, if the price gets too close to cost, that would be a bad thing.


6 posted on 01/25/2015 5:24:15 PM PST by Dalberg-Acton
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To: Dalberg-Acton

I don’t either, but I believe it to be much closer to a dollar than to 35 dollars in Russia and Saudi.


7 posted on 01/25/2015 5:28:02 PM PST by 9thLife ("Life is a military endeavor..." -- Pope Francis)
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To: Dalberg-Acton
I don’t know what it costs to produce a barrel of oil, I’ve heard around $35. Anyhow, if the price gets too close to cost, that would be a bad thing.

There's no one answer to that; the cost to produce varies extremely widely depending on the source of the oil. There is oil that can be extracted for $4-5/barrel and oil that costs over $60/barrel to get out of the ground.

Anyway the lower, the better for everyone. The market will take care of how low it can go.

8 posted on 01/25/2015 5:28:37 PM PST by xjcsa (Ridiculing the ridiculous since the day I was born.)
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To: Dalberg-Acton

It depends on what country ... Saudi Arabia, for instance ... it’s $5 to $6. We’re just talking about getting it out of the ground, and not what it costs to run their government.


13 posted on 01/25/2015 5:51:43 PM PST by Star Traveler (Remember to keep the Messiah of Israel in the One-World Government that we look forward to coming)
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To: Dalberg-Acton

Depends....Ive heard its around $5/bbl in Saudi and much higher in other places.


16 posted on 01/25/2015 5:58:15 PM PST by Tea Party Terrorist (Why work for a living when you can vote for a living?)
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To: Dalberg-Acton

It depends on where they produce it. Can be as low as $5/bbl in Saudi Arabia because it is just feet below the surface, to $75/bbl for some shale deposits and some deep sea rigs. Maybe average cost of all production is in the $30’s? Lots of other complicating factors as well such as Russian winters make it hard to make changes to production.


30 posted on 01/25/2015 7:19:18 PM PST by monkeyshine
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