Yeah, I worked on the drilling rigs in Wyo in the early '80s, and I can tell you that $8.75 a barrel cost HAS to be for completed, producing wells.

Over 25 years ago, the cost for keeping a rig operating and "makin' hole" was several THOUSAND dollars a day - and that was just to punch the hole - that might or might not end up producing anything.

Once the hole is drilled and the pumping starts, then I can believe $10-$20 a barrel to get it out of the ground and to the refinery. But by the time you get to that point you've already spent hundreds of thousands - maybe even millions - of dollars....

__________________
1984 300 Coupe TurboDiesel
Silver blue paint over navy blue interior
2nd owner & 2nd engine in an otherwise
99% original unmolested car
~210k miles on the clock

1986 Ford F250 4x4 Supercab
Charcoal & blue two tone paint over burgundy interior
Banks turbo, DRW, ZF-5 & SMF conversion
152k on the clock - actual mileage unknown