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To: Alberta's Child
The problem with U.S. oil is that it costs to much to extract it, refine it, and deliver it.

Why are these costs so high?

IMO because of the endless government red tape that has been caused by environmental concerns. These combined with endless lawsuits brought by organizations such as greenpeace, raise the price of domestic production and infrastructure.

If the other oil producing nations were to face similar circumstances, our domestic oil would be more than economical. I do not see in the near future, any chance of an eco-terrorist telling any of the Saudi princes that they need to clean up their environment.

If we delay opening ANWR for too long, the infrastructure in nearby Prudhoe Bay will be deteriorated to the point of making the oil unrecoverable at $50 per bbl.

16 posted on 10/17/2002 11:53:22 AM PDT by alaskanfan
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To: alaskanfan
Look at it the other way around -- the cost of extracting oil in most other parts of the world is LOWER than in the U.S. The red tape and all that crap you mentioned plays a role, but I think the biggest factor is that the U.S. dollar is very strong against almost every foreign currency. Canadian oil companies get $45 per barrel in their currency when the price is at $30 ($US) per barrel.
17 posted on 10/17/2002 11:59:11 AM PDT by Alberta's Child
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