Lux Research: Cost of replacing a barrel of produced oil up 350% in 13 years
Green Car Congress
OCTOBER 1, 2012
The cost associated with replacing a barrel of produced oil has risen from $6 per barrel in 1998 to $27 per barrel in 2011, according to Lux Research—an increase of 350%. Unconventional oil will be a key area of focus for producers. In 2012, 62.5% will be in the oil sands. Source: Lux Research.
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