Where does your $3.18/gallon go?
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Lead Driver
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Where does your $3.18/gallon go?
I thought this was a very interesting read.
Maxim, November 2007 issue, page 34, by Padraig Garcia-listed under finances
Maxim, November 2007 issue, page 34, by Padraig Garcia-listed under finances
Last edited by empiretc; Nov 7, 2007 at 09:08 AM.
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Yeah, but this article is about a month old. I don't think we are going to see a break in fuel prices. Crude is projected to hit $100 barrel today. I don't know why I watch the news so much, all it does is depress the heck out of me.
Butt-Head
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From: Reed Point, MT
Originally Posted by santacruzf250
It's interesting that everyone gets a little piece. Cool Find
Oh yeah, the pictures aren't bad, either.
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I just thought I would post this as there is so much debate as to just exactly how much profit big oil is making. Some say 10%. 2/3 doesn't work out to 10%. Who's numbers are off?
I saw an interview on nighline with a wildcat whose pump (one of many) produces 600 barrels a day. He is excited about the high price oil and said total cost to get it setup was 500k. Daily operating costs about 5k. So if the pump produces 55k a day net, how long before its mostly gravy? not long at all. Other wells were putting out 1000 barrels a day.
He is still small potatoes compared to BIG oil.
I saw an interview on nighline with a wildcat whose pump (one of many) produces 600 barrels a day. He is excited about the high price oil and said total cost to get it setup was 500k. Daily operating costs about 5k. So if the pump produces 55k a day net, how long before its mostly gravy? not long at all. Other wells were putting out 1000 barrels a day.
He is still small potatoes compared to BIG oil.
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From: South LA
Originally Posted by empiretc
I saw an interview on nighline with a wildcat whose pump (one of many) produces 600 barrels a day. He is excited about the high price oil and said total cost to get it setup was 500k. Daily operating costs about 5k. So if the pump produces 55k a day net, how long before its mostly gravy? not long at all. Other wells were putting out 1000 barrels a day.
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From: I'm there!
Originally Posted by powrstrkn'
Geez I wish fuel was 3.18, just got raped for $3.60 a gallon here in CT
Filled up in Alabama at some Wally Mart to the tune of $2.98 last week, spent $500 and hauled a$$. Still good to go, almost crapped myself this morning filling the shop truck, didn't fill it though, stopped at $120. ($3.39 in Little Rock as of this a.m.).
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Originally Posted by makomaker
My neighbor has spent 5mm on getting one of his wells to flow...when it does his payback will be about 2-3 mos...and it will produce for the next 10-20yrs...
I own some property, but unfortunately, no mineral rights (still belong to families from 200 years ago). I would still be entitled to 1/64 as the current property owner. Doesn't sound like much, but a friend of mine was getting 10k a month for his 1/64. Its been 10 years and he's only getting about 2k a month now as the well has pretty much been exhausted. I wish they'd hit oil on my land, but then again, don't we all. And I'm just not that lucky.