Cost of OPEC to produce a barrel of oil...

[krazyace5]

$4, Then they sell it on the open market for $70!?!

Talk about a scam....

[Dynasty]

Capitalism rocks. Good for them.

[krazyace5]

[ QUOTE ]
Capitalism rocks. Good for them.

[/ QUOTE ]

Monopolies rock...

[Warik]

I seriously doubt it only costs them $4 to produce a barrel.

However, I also even MORE seriously doubt $70 is an even remotely fair price. [img]/images/graemlins/smile.gif[/img]

[Sponger15SB]

[ QUOTE ]
$4, Then they sell it on the open market for $70!?!


[/ QUOTE ]

This is pretty much nothing compared to a lot of products.

Stuff like perfume and lipstick costs like 5 cents to make.

[Arnfinn Madsen]

A lot of the oil on the world market has a considerable lower production cost (about 50c pr barrel) while some is at above $10 per barrel.

[Voltron87]

yeah this whole world free market economy is total [censored] the USA over. were seriously hemorraging cash here.


maybe if we didnt use oil in such a wasteful fashion...

[mason55]

[ QUOTE ]
[ QUOTE ]
$4, Then they sell it on the open market for $70!?!


[/ QUOTE ]

This is pretty much nothing compared to a lot of products.

Stuff like perfume and lipstick costs like 5 cents to make.

[/ QUOTE ]

At least with those you can pretend you are paying someone extra to design it for you.

[jakethebake]

[ QUOTE ]
However, I also even MORE seriously doubt $70 is an even remotely fair price. [img]/images/graemlins/smile.gif[/img]

[/ QUOTE ]

if someone pays it, it's fair.

[mason55]

[ QUOTE ]
[ QUOTE ]
However, I also even MORE seriously doubt $70 is an even remotely fair price. [img]/images/graemlins/smile.gif[/img]

[/ QUOTE ]

if someone pays it, it's fair.

[/ QUOTE ]

In fact I would maintain that we are ripping OPEC off. If there are gas shortages in certain areas that means that demand is outpacing supply and prices should be raised.