[semi-extrinsic]

For comparison, the cost of downtime for a single oil rig is on the order of $100 per second. Petrobras, as an example, operates 70 rigs and has a market cap of $125 billion. Facebook has a market cap of $216 billion.

(source for cost: Cormorant Alpha shutdown in 2013)

Edit: misplaced parenthesis => my first number was way off, $70 000 vs $100. Redid analysis, made mental note not to do math before coffee intake.

[timmaxw]

http://www.offshoreenergytoday.com/cormorant-alpha-shutdown-... estimates that the Cormorant Alpha shutdown cost $10,000,000/day, or about $100/second. That figure comes from multiplying the oil production (90,000 barrels/day) by the oil price ($110/barrel). Where did you get the $70,000/second figure from?

[semi-extrinsic]

Gah, misplaced a parenthesis. You are correct. I shouldn't do math before I've had coffee.

[mjrpes]

That seems a tad... high.

$70,000 = $2 trillion a year, assuming 24/365 usage.

Total value of all oil produced in the world (assuming $50/barrel) is roughly $1.4 trillion a year.

[omni]

You're off by an order of magnitude, 70 * 100 = $7,000, not $70,000.