Re: Why Petrol Costs So Much
The cost of digging up these dead dinosaurs (or the abiotically produced hydrocarbons, I'm in mixed minds) is less than $4/BBl reputedly.
It sells for what the market will bear, which is a pretty decent mark-up.
Back when the Oz dollar was 45c US, and Oil was $45US/BBl, Costello got on the tele.
He explained that every dollarUS oil rose OR every centUS our dollar dropped was a cent per litre at the pumps.
$1.00 plus 0.25 minus 0.30 appears to equal $1.30.
I keep sending the memory to the T.V. stations, but for some reason, they don't repeat the interview.