$85-$110 per barrel will be the average over the next couple of years, but it's primarily due to the lack of refining capabilities. There hasn't been a new refinery built in the U.S. for over twenty years.
It would take at least a sustained $140 per barrel to convince investors to put money into shale oil extraction.
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Date: 30/5/10 00:56 (UTC)It would take at least a sustained $140 per barrel to convince investors to put money into shale oil extraction.