That pesky $4 gal. diesel has crept into my neighborhood!

[luvrbus]

I read where Brazil a country that runs on bio- fuels now has the 3rd largest oil reserve in the world 43 billion barrels amazing how much oil there is now at over at $100 a barrel

[belfert]

With prices so high, everybody and their brother is out looking for oil and they are finding it.  There are a lot of oil finding and pumping/extraction methods that are only viable at high prices.

I read of folks in Pennsylvania spending maybe $50,000 or $100,000 to reopen old wells thought to be pumped out.  They may only pump a few thousand barrels, but at today's prices you don't need much to make money.  There are wells only producing a few barrels a week that are left to pump.  I don't see how they cover electricity and maintenance, but they still let them pump.