Your estimate for the water is way too high. I pay $2 USD (as of today's exchange rates) for a cubic metre of water from my local utility. That works out to abo

Your estimate for the water is way too high. I pay $2 USD (as of today's exchange rates) for a cubic metre of water from my local utility. That works out to about 32 cents per "barrel" of water. A $75 USD barrel of oil is 234 times as expensive as the same amount of water. From what I can gather, oil rigs have profit margins below 20% (at best) and margins decline as the pressure in the well head drops, until they become totally unprofitable and shut down to wait for oil prices to go up. Water prices would have to increase by more than 2 orders of magnitude to make this strategy begin to approach profitability!