- Sep 13, 2012
- 65,751
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Oh and we do have lots of oil reserves. Once oil prices reach 100+ dollars again we might use them.
Actually it takes a price of 54-55 dollars a barrel to make US production profitable, and what we are exporting is refined products and LPG, not crude.
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I was thinking of new exploration not tapping known reserves. We don't export much crude oil but at least it's no longer against the law to.
I was talking about new exploration, it can be profitable with the price in the mid 50's.
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