Natural Gas Power Plant $50 per barrel oil is clearly less impossible to live with than $30 per barrel oil, because most businesses cannot make a profit with $30 per barrel oil. But is $50 per barrel oil helpful? I would argue that it really is not. When oil was over $100 per barrel, human beings in many countries were getting the benefit of most of that high oil price: – Some of the $100 per barrel goes as wages to the employees of the oil company who extracted the oil. – Often, the oil company contracts with another company to do part of the oil extraction. Part of the $100 per barrel is paid as wages to employees of the subcontracting companies. – An oil company buys many goods, such as steel pipes, which are made by others. Part of the $100 per barrel goes to employees of […]