A ratio of 3:1 doesn't strike me as "almost as much energy as it produces." Would you say that if I gave you $3 for every $1 you gave me?
"Hall, who wasn't involved in Hughes' study, thinks the EROI for oil sands would fall closer to 1:1 if the tar sands' full life cycle—including transportation, refinement into higher quality products, end use efficiency and environmental costs—was taken into account."
Furthermore, if you structured your whole life around a 15:1 ratio, then a 3:1 ratio could very well be effectively 1:1.