02 Mar '12, 11am

5 Things That Actually Determine the Price of Gasoline | Care2 Causes

Notably absent from the list - cost of extraction. Light sweet crude, the stuff that was easy to get, is essentially gone. The spam email about the Baaken formation is making the rounds again. It does not matter how much potential oil is trapped in shale or tar sands, only what can be extracted. Extraction is straightforward economics. When Jed Clampett shot a hole in the ground and crude flowed out of the hole, that was cheap extraction. When water and chemicals have to be pumped under pressure down thousands of feet to force out muck that can eventually be refined at a much greater cost, well, it costs a lot more. No company will do that unless they can recover the cost. Currently, it's the light sweet crude coming from the middle east that is actually holding the price down. When the cost exceeds the amount you make at work, or when the transportation costs become too h...

Full article: http://www.care2.com/causes/5-things-that-actually-determ...

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