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Old 15th Jan 2016, 11:39
  #104 (permalink)  
nowherespecial
 
Join Date: Jun 2005
Location: nowhere special
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Got it in one Phone.

Plus, quoting figures which don't have tax is pointless unless the lack of tax is acknowledged. Taxes and royalties are the rewards to the government (and the people they serve) for letting companies drill and extract oil. It is utterly pointless just to quote the extraction cost without taxes as without the taxes you cannot extract.

Below a 2015 report containing data from the egg heads at Morgan Stanley quoting UK costs in 2014 for a barrel excluding any taxes at $30.

http://www.petroleumworld.com/pdf/Morgan2015.pdf

Some of the opinions on future price direction are laughably wrong of course, but their data source is the same as the one I quoted above, also used by the Economist. I think it's fairly safe.
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