| Hi
I worked the offshore rigs and they have some real high costs to get this stuff to the pump. 20-30 million to survey , average lease another 30 mil, , 30 mil to drill, 1 in 4 is worth developing, 300 mil or so to put in enough wells to make it developable, instaslling a production platform is anothe 100 million, then another couple of hundred mil to run a pipe line to tie in to one going to the beach. And it is still crude oil until refined and distributed. Then the tax on it is added. No wonder it is going up. |