[Brucelee]

Originally Posted by Lil bastard

According to the API, it costs about $60/bbl. to drill, pump and refine a barrel of crude from on-land and coastal-water rigs and upwards of $90 for deep-sea rigs.

One barrel of crude equals 42 gallons. This will yield 47% (19.7 gal.) gasoline, 23% (10 gal.)heating oil and diesel fuel, 18% (7.5 gal.) is refined to other products including petrochemical feedstock such as polypropylene, 4% (1.7 gal.)propane, 10% (4.2 gal.) jet fuel, and 3% (1.26 gal.) asphalt. (Percentages sum to over 100 because there is approximately a 5% processing gain in refining.) - source: Energy Information Administration - http://tonto.eia.doe.gov/ask/crudeoil_faqs.asp

That MAY be the cost of procuring the oil to gas. The second question is how much should it sell to us for?