Please check my calculations and correct me if I'm wrong.
5,800,000 BTU's in one 42 gallon barrel of oil. Cost of a barrel of oil is about $110/barrel. Therefore, the cost of 1,000,000 BTU's of oil would be $18.97.
1,030,000 BTU's in one Mcf of natural gas. Approximate cost of 1 Mcf of natural gas is about$2.50. Therefore, the cost of 1,000,000 BTU's of natural gas would be $2.43.
30,600,000 is the approximate BTU's in a ton of coal. I'm guessing that a ton of bituminous coal sells for about $20/ton. This would result in the cost of 1,000,000 BTU's of coal being $0.65.
If my numbers are anywhere near correct, it would appear that natural gas would be about 8% the cost of oil on a BTU basis, and that the cost of coal would be about 3% the cost of oil on a BTU basis.
Are these calculations anywhere near correct?
I know that the three fuels are not directly comparable for all sorts of reasons. However, right now I just would appreciate someone checking the general accuracy of my calculations on a strict BTU basis. Also, I know different coals and differ natural gases have different BTU values. I'm just trying to get my calculations in the general "ball park" range.