In 2005, we priced it at $37/bbl, assuming 25 wells, a few miles of piping, and 5 billion barrels in the ground. I would guess it has gone up to $40/bbl by now.
Sorry your failed ideology didn't go to chemical engineering school, or the north slope.
That number is absolutely incorrect. The cost of drilling is slightly more, but the cost of pumping it out of there is minimal since the pipelines are already in place.
The key to keeping the price of energy low is to always be ready to increase production. Putting it off for five years would put us five years behind the curve. Look for Obama's order to be replaced by late 2017.