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Author Topic: That pesky $4 gal. diesel has crept into my neighborhood!  (Read 6524 times)
luvrbus
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« Reply #60 on: April 16, 2008, 05:02:11 PM »

I read where Brazil a country that runs on bio- fuels now has the 3rd largest oil reserve in the world 43 billion barrels amazing how much oil there is now at over at $100 a barrel
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belfert
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« Reply #61 on: April 16, 2008, 05:09:59 PM »

With prices so high, everybody and their brother is out looking for oil and they are finding it.  There are a lot of oil finding and pumping/extraction methods that are only viable at high prices.

I read of folks in Pennsylvania spending maybe $50,000 or $100,000 to reopen old wells thought to be pumped out.  They may only pump a few thousand barrels, but at today's prices you don't need much to make money.  There are wells only producing a few barrels a week that are left to pump.  I don't see how they cover electricity and maintenance, but they still let them pump.
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Brian Elfert - 1995 Dina Viaggio 1000 Series 60/B500 - 75% done but usable - Minneapolis, MN
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