Given that there's a war on. I think that this is originally from the US but this turned up first in a search. By a Steve Christ.
http://www.stockhouse.ca/bullboards/viewmessage.asp?no=13466838&tableid=0
QuoteBut while the current price at the pumps has been seemingly kind to consumers and the GOP alike, it is only because it doesn't accurately reflect the reality of its true costs.
In fact, it is not even close.
That's because, in truth, the price of a barrel of oil is a fantasy.
Sure, its spot price may be about $60/barrel, but the reality is that the true cost of a barrel is much, much higher.
How much higher you ask? Try $262.00 per barrel higher.
That means that the true cost of barrel oil is not $60 as is widely believed, but a hefty $322.00 or 5.3 times its spot price.
That's because the spot price of a barrel of oil is a completely insufficient measure of its cost. It only involves the unit price and fails to take into account all of the costs associated with keeping those millions of units flowing.