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You wouldn't pay the market price. Its costs money to extract oil, less than $10 per barrel in Saudi Arabia, in the $20s in the US. http://graphics.wsj.com/oi
by thinkcontext 5y ago
You wouldn't pay the market price. Its costs money to extract oil, less than $10 per barrel in Saudi Arabia, in the $20s in the US.
http://graphics.wsj.com/oil-barrel-breakdown/ http://graphics.wsj.com/oil-barrel-breakdown/
- jazzyjackson 5y agoOK but if I can sell 10 million barrels of oil for $750M why would I accept $100M to keep it in the ground?
- thinkcontext 5y agoYou would if your extraction costs were greater than $650M. But that's not what the comment I replied to was suggesting, they were suggesting offering $750M to keep it in the ground.