The global oil industry spent $3.5 Trillion, or $500 billion per year on average, for 2006 to 2012 inclusive of upstream (exploration and production) costs. ��
For 2006 to 2012 inclusive, global "actual crude oil" production averaged 73.7 mbpd, versus 73.6 mbpd in 2005. �� So it took $3.5 TRILLION DOLLARS of exploration expense�� to increase average daily oil production by 100,000 bpd. That is $35 MILLION dollars for each barrel of daily production increase. Source: ASPO-USA -- You received this message because you are subscribed to the Google Groups "Everything List" group. To unsubscribe from this group and stop receiving emails from it, send an email to everything-list+unsubscr...@googlegroups.com. To post to this group, send email to firstname.lastname@example.org. Visit this group at http://groups.google.com/group/everything-list. For more options, visit https://groups.google.com/groups/opt_out.