Forget $20 - Oil Prices At $8 Per Barrel In Canada

Oilprice.com ^ | 14-01-2015 | noh

[bananaman22]

Where is the cheapest crude oil in the world? And how low can you get that barrel of oil?

WTI has declined to $30 per barrel, the lowest level in more than 12 years. But heavy oil producers in Canada would love to have $30 oil.

The price for a barrel of bitumen, the tar-like oil sands that comes from Alberta, fell to just over $8 per barrel this week. That is not a typo. Bitumen traded at $8.35 per barrel on Tuesday.

In fact, Amazon.com sells oil drums – just the barrel, not the oil – for $78, almost ten times the cost of the actual bitumen. To be fair, that drum holds 55 gallons instead of the industry-usual 42 gallons. But even a 30-gallon barrel – again, an empty barrel – costs 7 times more than the oil sands that would go in it.

[T-Bone Texan]

Legos should be cheaper too.

[T-Bone Texan]

Legos should be cheaper too.

[SunkenCiv]

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