Posted on 07/12/2015 11:38:00 AM PDT by ckilmer
the electric car does not need
al-Queda or al-Exxon
about what?
And they don’t even produce it - no matter how many muzzies are educated in the west, they still have to hire western engineers to pull it out of the ground for them.
Drilling rate is not something to worry about. The politicians who block drilling in the US both on and off shore are the ones blocking oil production. If we could drill everywhere and export oil we could produce more.
The Saudis make a killing on their oil. Cost of production is around $25 barrel, or so I’ve read.
This is a really poor comparison, deceptive.
It is comparing what it took us to grow our production at a growing rate, to what the Saudi did to keep their production rate stagnate.
It is comparing what it took us to grow our production at a growing rate, to what the Saudi did to keep their production rate stagnate.
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But fracking has such high decline rates that you have to do a lot of drilling just to maintain production rates. only after you’ve done that much drilling can you drill more to get higher production rates.
I see your point so we would have to slice off a certain percentage of costs from US drilling to get to apples to apples.
But I don’t see that percentage as being sufficient to moot the significant saudi cost advantage.
But maybe you have better insight than I do.
What do you figure the cost per barrel would be to maintain current US production rates?
And then as compared to costs per barrel to maintain current saudi production rates.
I don’t see comparing “profit” of a nationalized oil company to the profit of private US companies meaningful.
They fund their government welfare systems, military, etc from their oil profit and must to exist as a nation.
We don’t.
I don’t see comparing “profit” of a nationalized oil company to the profit of private US companies meaningful.
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I understand this however, even a nationalized oil company has to pay their bills. The problem comes in discovering their true costs of production because they virtually unlimited ways of hiding their true costs.
But the nationalized oil company has bills many times the cost of producing the next barrel of oil.
The US oil company does not have to pay for the US military, the welfare, the administration of a nation.
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