oil to get out of the ground is deep water, ultra deep water like the horizon incident in bp, way down, that s $35 a barrel to get out. you can realize why somebody in 2005 would be able to sane front of a senate committee, a ceo of a major company would be able to say once oil prices go above $45, we re good, we don t need any more subsidies. there s no reason for them to provide them, especially since 2005, we re up 2 1/2 times the price of oil where we were back then. the point is the cost of this remains fairly fixed if you re extracting oil and expensive difficult to extract oil like deep water coming in at a value far below what oil is trading at. you just profit. yes. you call yourself a manufacturer, apply for a manufacturer tax credit and the idea to incentivize to off source manufacturing.
$2 a barrel. the most. oil to get out of the ground is deep water, ultra deep water like the horizon incident in bp, way down, that s $35 a barrel to get out. you can realize why somebody in 2005 would be able to sane front of a senate committee, a ceo of a major company would be able to say once oil prices go above $45, we re good, we don t need any more subsidies. there s no reason for them to provide them, especially since 2005, we re up 2 1/2 times the price of oil where we were back the then. the point is the cost of this remains fairly fixed if you re extracting oil and expensive difficult to extract oil like deep water coming in at a value far below what oil is trading at. you just profit. yes. you call yourself a
barrel to get out of the ground. $2 a barrel. the most. oil to get out of the ground is deep water, ultra deep water like the horizon incident in bp, way down, that s $35 a barrel to get out. you can realize why somebody in 2005 would be able to sane front of a senate committee, a ceo of a major company would be able to say once oil prices go above $45, we re good, we don t need any more subsidies. there s no reason for them to provide them, especially since 2005, we re up 2 1/2 times the price of oil where we were back then. the point is the cost of this remains fairly fixed if you re extracting oil and expensive difficult to extract oil like deep water coming in at a value far below what oil is trading at. you just profit. yes. you call yourself a
one rig at the bottom of the gulf of mexico would be a second one, and that s why caution is very important and why $100 million was set aside to take care of the people who work on those 33 out of 1,000 manned rigs in the gulf of mexico. but those 33 are out in the ultra deep water. we have to make sure that they re also ultra safe. so if the transocean blowout preventers have improved, then we re only facing the prospect of two or three more of these, rather than four or five? we really are in an area that humanity has never been before. yeah. no person has ever been down that deep in the ocean, 5,000 feet. no experiment like this has ever been conducted before from dispersants to blowout preventers and trying to cap a well at this depth. the one in mexico and the one in
americans, and particularly to those people living in the gulf of mexico where i am, but it seemed to play differently in the uk where it appeared that he was savaged by u.s. congressmen. yes, one paper called him the most hated man in america, the guardian. and the financial times said he was mauled in congress. they re not saying they don t understand what s going on in the u.s. or down playing what happened in the gulf at all. there are some business leaders who said that maybe all the blame shouldn t go on to bp. but i think we go back to where tony hayward was, the global ceo of a very large company, a huge operation in russia, the middle east, and the in u.s. there were people in the u.s. who were in charge of the u.s. side of it. you and he i know this is the old amoco. bp took over in 1999, where the deep water and ultra deep water came from, and that s where they were getting releases, going through the u.s. and that s what they were concentrating on there, was, of cours