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To: Bill Harmond who wrote (146143)	8/25/2002 10:34:15 PM
From: GST	Read Replies (2) \| Respond to of 164685

It is nonsense to say it costs $6 to find and extract a barrel of oil -- the cost varies widely with some as low as a couple of dollars and some as high as $100 per barrel -- it depends entirely on where you are doing the extracting, how you are doing the extracting and what you are extracting. Oil and gas deposits vary by how deep and diffuse the oil/gas deposit is (and hence whether or not you need to use high frac technology), the quality of the oil itself (tarsands are economical but only at a price per barrel far above what we pay now), how big the field is and so on and so on. I don't think you will find any place on the planet anywhere near as cheap as Iraq and Saudi Arabia to extract high quality oil.