Welcome to European Tribune. It's gone a bit quiet around here these days, but it's still going.
Saudi's cost of production is $5-10.  Very little of our current production has been brought on stream since oil shot up from $20/bbl.  Even tar sands are profitable at $40-50.  

If we cut most transportation/heating/electricity demand away leaving just lubrication, jet fuel and ship fuel, we'd stretch out the cheap supply for a long long time.

by HiD on Sun Jul 13th, 2008 at 08:19:07 AM EST
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