The Cost Of A Barrel Of Oil Just Dipped Below $50.00

Tar Sands

Not a pretty picture.
Uglier still the carbon load.

Alan: It is said the Saudis are prepared to pressure the price of oil down to $40.00 a barrel to prove to U.S. and Canadian tar sands and shale oil producers that they will not tolerate any major new players in the petroleum market and that they will "break them" by making production costs prohibitively high relative to re-sale value. It is widely assumed that tar sand and shale oil production costs $60.00 a barrel, a figure that does not include remediating the ecological disasters to come.

The American Oil Boom Won't Last Long At $65.00 A Barrel
http://paxonbothhouses.blogspot.com/2014/12/the-american-oil-boom-wont-last-long-at.html

Oil just dipped below $50 per barrel. How much lower can it go?Oil continued its plunge today, as markets opened for the first full week of trading in 2015. A barrel of U.S. benchmark West Texas Intermediate crude oil most recently traded at $ 50.14, after briefly dipping below $ 50 per barrel. That is a mindboggling decline from late June of 2014, when prices were more than … [continued]