Matt, that's a great chart. The most important thing to take away from that is that the theoretical stable long term price of oil is about $65-$70 (The point at which current demand of 90-90mmbpd crosses the supply line).
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Originally Posted by Flash Walken
am I reading this correctly, that the break even estimate for oil sands oil is $70 a barrel?
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Correct. Not to sustain existing production, that's in the $30-$40 range. But including return on capital we need at least $70 for new growth.