Quote:
Originally Posted by wind_magic
it is just hard to beat, that is why it costs so little to purchase at the pump, and why we are so enamored with it.
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While I agree with you that it is hard to beat, your idea of low or no costs just is not reality for the USA.
Offshore total costs of development and life cycle are currently above $60 a bbl, while our land costs vary from as low as $15 to $50 or more. It takes incredible amounts of energy (oil or gas) to extract Canadian oil sands.
So if you are talking about Oil as cheap as dirt - why you must be assuming that the oil in Saudi Arabia somehow belongs to you.
It doesn't. And despite their low costs, they are not likely to give it to you at that price.
Your post is not accurate as to today. Yes, oil is still cheap at $70 a bbl and $2.50 a gallon, but not free or like dirt or stone.