Oil power costs

Some interesting data on Oil power generation:

This is a bit over one year of the Department of Defense’s (DoD) budget or about three years of global expenditures on exploration and development of oil and natural gas to maintain about 85 million barrels of oil per day production. A 20-terawatt-electricity (TWe) LSP is the equivalent of 1,000 million barrels of oil per day. Source

Given the above figures we have 1 barral per day generates 20kW, or say at 60USD per barrel 2.50USD per hour generates 20kW. So at 60USD/barrel the cost of oil generated power is about 12.5 US cents per kWh. I’ll have to do some more checking on these numbers.

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