- The average cost of producing 1 barrel of oil was $11; the average price of the oil in the marketplace: $72 -- some 6.5 times the cost of getting the oil out of the ground.
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Under Questioning by Cantwell, Exxon CEO Estimates Oil Should Cost $60-70 Per Barrel, page 1
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reply posted on 18-5-2011 @ 03:15 PM by armtx
reply to post by kaleshchand
$11 a barrel? i dont about that, but it probably isnt that far off IMO.
During the BP spill here in NOLA, reports came out that BP was doing 2 billion in profit monthly...24 Bill a year in profit.
I do know they spend a ton of money during the drilling the process, but at 2 bill a month, it probably doesnt cost much more than 20 bucks to produce a barrel, an honest mark up of 200% and they are making 40 bucks a barrel in profit. Multiply that times what, 100,000 barrels daily the US uses and i dont know how they are not making a ton of money and speculators are laughing all the way to the bank.
There also is not a bottle of wine made in the WORLD that costs more than 5 dollars to make, but if you try to get your hands on a bottle of Robert mondavi select, you will upwards to 200 dollars for it.
$11 a barrel? i dont about that, but it probably isnt that far off IMO.
During the BP spill here in NOLA, reports came out that BP was doing 2 billion in profit monthly...24 Bill a year in profit.
I do know they spend a ton of money during the drilling the process, but at 2 bill a month, it probably doesnt cost much more than 20 bucks to produce a barrel, an honest mark up of 200% and they are making 40 bucks a barrel in profit. Multiply that times what, 100,000 barrels daily the US uses and i dont know how they are not making a ton of money and speculators are laughing all the way to the bank.
There also is not a bottle of wine made in the WORLD that costs more than 5 dollars to make, but if you try to get your hands on a bottle of Robert mondavi select, you will upwards to 200 dollars for it.
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Wall Street has gamed the system to keep oil prices high despite increased domestic production.
Posted 14 days ago with 8 member flags
Posted 14 days ago with 8 member flags
Just HOW much does it cost to produce a litre/gallon of petrol/gasoline ?
Posted 6 days ago with 4 member flags
Posted 6 days ago with 4 member flags
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