(Aliceville Reservoir Specific)
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(Aliceville Reservoir Specific)
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Would you spend $100 to only get $75 back? These are publicly held companies that are in business for profit. Not sure why they would keep wells pumping to sell the oil for less than it cost them to get it out of the ground. As for exploration .... I think that has been most of the oil companies arguments is to open up areas that have proven volume reserves rather than in fields with limited capacity. It costs millions upon millions of dollars to set up rigs. If the price does not justify it or the "volume" then it is not cost effective. There are plenty of areas that have been put off limit that have more reserves than all of the middle east that would be very cost effective to set up drilling.
Keep in mind that after oil is pulled out of the ground it must be transported to a refinery, processed and then transported again before you put gas in your car or truck.
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