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  • From: Don Bowen KI6DIU <don.bowen AT earthlink.net>
  • To: homestead AT lists.ibiblio.org
  • Subject: Re: [Homestead] Morning musing
  • Date: Fri, 21 Sep 2007 10:28:52 -0700

At 9/21/2007, you wrote:
But there are lots of
areas with oil, the problem is the cost of extraction. Why spend the
money if you can get it cheaper elsewhere.

There are two costs of extraction. One is the dollar cost of exploration, drilling (some dry holes), well head, transportation, etc. Some of the more recent deep water finds may require oil to sell near $100 to break even. The other is the energy cost. If it costs one equivalent barrel of oil to extract one barrel then it is not worth extracting.



Don Bowen Awl Knotted Up KI6DIU
http://www.braingarage.com




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