Average cost per barrel of OIL to produce today????

SoylentGreen · Heavy Crude Joined: May 25, 2008 Posts: 168

I heard a blurb on CNBC today stating that at the recent turn of the century, a barrel of Oil on average(some sources are obviously cheaper than others to get a Bbl. of Oil out of)was under $10 to get out of the ground .
NOW that cost averages $55 a barrel?
Can anyone confirm this?....and of so..at least in my mind, is another clear sign of peak Oil.

cipi604

Christophe de Margerie , Chief Executive Officer of Total said that they will enter in the $80 oil reserves.