I thought this was a very interesting read.


Maxim, November 2007 issue, page 34, by Padraig Garcia-listed under finances

 

It's interesting that everyone gets a little piece. Cool Find

 

It will probably be January before we see any break in the price of Diesel. Makes me want to brew my own Bio-d

 

Geez I wish fuel was 3.18, just got raped for $3.60 a gallon here in CT

 

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.

 

I think when primaries start it will go down,repubs need to get points somewhere and not many other places

 

Yeah, it's interesting that someone actually READS Maxim magazine........

Oh yeah, the pictures aren't bad, either.

 

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.

 

Filled up today 3.71, Owner of the filling station told me it was going up on Fri. 126.50 to fill up. Ouch.

 

Jumped .15 today to 3.54

 

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...

 

No kidding, I was thinking $3.18 was cheap.

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.).

 

25 gal x 3.60 gal = $90. last Sunday.

 

Here in Upstate NY, 1 Station was 3.39 on Sat. Sun 3.45. A few others are 3.55
Bill

 

Did you mean 5 million?

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.