Thursday, January 1, 2015

Here Are The Most And Least Expensive Ways To Drill For Oil

From:  Business Insider 


There are a bunch of ways to drill for oil. 

You can drill it in your backyard if you're in the right spot, or you can go just offshore and drill it from the ocean.

You can also frack for it or extract oil from tar sands. 

But whichever way you choose to procure your oil, the costs are going to be different. 
On Monday, the price of West Texas Intermediate oil — the US benchmark price — traded below $53 a barrel for the first time since May 2009, bringing WTI's decline to nearly 50% from its June highs. And as the price of oil has declined, many have asked what the "breakeven" price is for various oil projects around the world. 

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