Food for thought - Rising Oil Prices

[Kirby]

As we all have seen, crude prices are continuing to rise. Here's something to ponder:

What happens when the cost of extracting, transporting and refining 1 barrel of oil exceeds the selling price of that barrel of crude?

 

[epj3]

As we all have seen, crude prices are continuing to rise. Here's something to ponder:

What happens when the cost of extracting, transporting and refining 1 barrel of oil exceeds the selling price of that barrel of crude?

The cost of production couldn't have gone up that much

http://www.occupationwatch.org/headlines/archives/2005/04/blair_makes_utu.html

I don't think we should even talk about it. There's too much political influence in gas prices (from all countries) that there is absolutely nothing we can do - unless one of us is super rich. It just pisses me off. Cost me $52 to fill my tank today which will be good for about a week and a half if i ONLY drive to school. It's getting to the point it's too expensive to even drive to class.

 

[CosmosBlack]

I do not believe the cost of production is what justifies the rise in gas prices.
They raised prices coz' they can, and they do it every summer!
They all can burn in hell with their oil.

 

[Abdoman]

The question is who can raise prices? If the oil companies had the ability, we would have never seen $10 dollar oil.

 

[newguy]

We have oil sands plants in canada that extract bitumen (oil) for roughly 12-14 dollars a barrel. Saudi, north sea oil from rigs is somewhat cheaper (usually 5/6 dollars per barrel)...there are a lot of people who have to "touch" the oil on the way, and they all want a piece of the pie...pipelines, ships, brokers,refiners,retailers,Government taxes are usually based on price, so they increase as well...keep it tuned and enjoy the ride!!!!