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To: 16yearcycle who wrote (20965)	5/31/2004 10:24:58 PM
From: Bill Harmond	Respond to of 57684

It costs $6/barrel to find and produce new oil.

To: 16yearcycle who wrote (20965)	5/31/2004 11:25:24 PM
From: Lizzie Tudor	Respond to of 57684

re: canada Really? I didn't know Canada had huge oil reserves. I am certainly no oil expert either, as you probably can tell. However, we are not a nation powered by manufacturing anymore, we have a fair amt of oil reserves ourselves esp Anwar, and according to Texas politicians like Ann Richards there is plenty of oil in Texas, the whole issue is price. Therefore, if OPEC raises prices above about $60 or so, my guess is these "other avenues" for oil start to become attractive. Its not like the west needs to be held hostage by opec anymore, this is ridiculous. I don't mean to dwell on this comment by Bin Laden about oil really being "worth" $147/barrel if not for US intervention, but it just gives you an idea of how offbase the people in this region of the world are drinking the wine of their own self importance.