Plastic2Oil Inc (PTOI)

[Justice37]

It is cheaper to drill for it. However, Exxon and other Big Oil companies, can't drill all the oil they need, in fact, they buy about half of their crude oil, at market prices.

http://money.cnn.com/2007/11/05/news/companies/exxon_oil/index.htm

It means there is a huge market for more domestic oil.

Also, oil from the Alberta Tar Sands, costs $31-$50 per barrel to produce, damn huge market for it. The most recent I found was $37, my link no longer works so this will have to do.

Canadian Oil Sands’ operating costs were $336 million, or $31.18 per barrel, in the second quarter of 2010, compared to $345 million, or $50.23 per barrel, in the same quarter of 2009. The decrease in operating costs was primarily due to lower turnaround costs and stock-based compensation expenses in the second quarter of 2010, partially offset by additional mining activities to support higher production levels and additional unplanned repairs and maintenance. Lower per barrel operating costs also reflect the increased sales volumes in 2010.

http://www.infomine.com/index/pr/Pa912781.PDF