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c . In 2 0 0 5 the RAND corporation estimated that it will cost between $ 7 0 - 9 5 / barrel to

c. In 2005 the RAND corporation estimated that it will cost between $70-95/barrel to produce Colorado oil shale. More recent estimates are similar. Development of an oil shale project will take decades to complete. In order to invest, a company will need to be confident that the price of oil will remain above the cost of production for several decades. Given the chart of global oil prices since 2010 from businessinsider.com, would you invest in an oil shale project in Colorado? Explain why or why not. The X-axis is year, and the Y-axis shows price/barrel in $ (2)

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