[Marxism] The fetishism of reproduction (was: RE:FutureCurrents)
darrel.furlotte at gmail.com
Tue Jul 29 20:01:48 MDT 2008
Yes, that's what they said back then. But the Canadian tar sands projects
have consistently cost 250% more than original budget projections. And its
gotten worse in the last 2 years. These nonconventional oil developments are
energy (oil and natural gas) demanding. Guess what the impact of doubling
and quadrupling those costs have on the cost of producing a barrel of oil
from the tar sands! Another factor in the rising cost is something else that
is in short supply and high demand: the skilled labor to build and operate
these developments. "Labor costs are skyrocketing out of control" moans the
oil companies. The only factor in plentiful supply is capital. If you do
some concrete analysis, I think you will find that JB's figures are very
----- Original Message -----
From: "S. Artesian" <sartesian at earthlink.net>
> One more thing, regarding tar sands, super-heavy extraction, etc.
> If you go back and look at the WSJ, or the FT, of the business section
> of the NYT in 2000, you'll see articles that said things like " at $10 a
> barrel, extracting oil from the tar sands wasn't profitable- but at $30
> picture has completely changed."
> And investments in the Orinoco super-heavy fields were initiated well
> oil was at $60/barrel, much less $120; the investments were based on
> estimated average prices of oil around $30/barrel.
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