185
Iran tells world to get ready for oil at $200 a barrel as it fires on commercial ships
(www.reuters.com)
this post was submitted on 11 Mar 2026
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Wasn't the Venezuela oil basically worthless because proper extraction would be too expensive to be viable?
Same is true of us oil. If you want conspiracy theories, there’s a more straightforward one. Us oil tends to be expensive with the need for advanced drilling such as fracking and horizontal drilling. In order to make a profit, it has to sell at like $60/bbl or more. Raising the global price of oil helps enrich those oligarchs that funded drumps csmpaign
Too expensive at $60 a barrel. Worth it at $200.
Not sure if too expensive but the geopolitical risk is too high.
It's doubtful if most of the reserves can become viable at any price. (Because the cost of materials increase when oil price increase.) But some are perfectly viable.
But also, even in perfect conditions, if they started drilling right now (what they aren't), it will take several month to start getting any of it.
Well if the price goes up then it becomes feasible to extract it. Same with the oil the US has at home. They could also extract it if the price gets too high, the reason they aren't doing so now is because the Middle East oil is cheaper (well, WAS cheaper).