Quote:
Originally Posted by Skip Towne
A barrel of oil is 42 gallons. And lifting costs are considerably more than $2. I was a partner in an oil venture and it cost $10,000 to drill each well. And they were only 600 ft deep. West Texas wells are 2 miles deep.
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I was quoting Fox news on what it costs Saudi Arabia to pump one barrel of oil. I guess I need to better educate myself on my barrel tables though.