Pages

Thursday, September 20, 2012

Gas prices drop overnight, part of the new norm of wild swings, experts say

Gas prices drop overnight, part of the new norm of wild swings, experts say: "The world is running out of easily accessible oil, he argues. That means we’re running out of cheap oil.

It costs less than $5 a barrel to extract typical Saudia Arabian oil, compared with about $80 a barrel for Alberta oilsands oil, he says.

Other “unconventional” sources, such as oil from Siberia or the deep ocean, will also be “very, very expensive — magnitudes more expensive” than cheap sources."

'via Blog this'

No comments:

Post a Comment