Talk about cherry picking! You pick on the first 0.025% of all the oil pumped and claim that is the fixed price. You're a piece of work, Willie - about as brazen a shyster and liar as I've seen! And one who never even posts a fact - ever. Just slams others and ignores the truth staring him in the face.
So how about the $376 PER TRIP subsidy, Willie? Gonna claim that's a lie, too? I did the math, the references are there. You lie about oil because you have some twisted vendetta created by some supposed "wrong" that "Big Oil" committed against you in the past. So you've become completely obsessed and irrational.
Go ahead, Willie. Justify the subsidy. Lay it out there. Or do your usual "it's a lie" and leave without any backing. Showing you for the empty headed drivel writer you are...
Way to lie about me, Willie... It STARTS at $70 per barrel but quickly falls down to $30 per RAND. And there are other methods that drop below $20 per barrel.
Those are marginal operating costs and do not include the massive investment required to develop the shale oil / tar sand infrastructure.
Nevertheless, it really doesn't matter.
I never said that Peak Oil would make shale oil and tar sands unprofitable.
Quite the opposite.
I expect that the market price of oil (as determined by supply and demand) will greatly exceed the costs of production. But the problem remains... we simply won't be capable of processing it fast enough to satisfy demand. Shortages will occur and prices will skyrocket.
And so will ridership on passenger rail systems.