A barrel of oil contains about six gigajoules of energy. That’s six billion joules. Put your average healthy Albertan on a treadmill and wire it to a generator, and in an hour the guy could produce about 100 watts of energy. That’s 360,000 joules. Pay the guy the provincial minimum wage, give him breaks and weekends and statutory holidays off, and it would take 8.6 years for him to produce one barrel of oil equivalent (boe, the standard unit of measure in hydrocarbon circles). And you’d owe him $138,363 in wages. That is what a barrel of oil is worth.

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