Re: Motivation for the Oil Barons

DB wrote:
> Fred Weiss wrote:
>> On Jun 5, 12:11 pm, DB <a...@[EMAIL PROTECTED]
> wrote:
>>
>>> Now, the truth is that 'they' don't want to build new refineries.
>>
>> Hyperion obviously does...
> 
> And has nothing to do with your comment:
> "But this is precisely why we have not had a new oil refinery built in 
> the country in 32 years."
> 
> A bald face lie. Bother to research your claims before you make them.
> 
> 
> http://www.eia.doe.gov/emeu/finance/mergers/refcap_tab1.html
> 
> The industry has been consolidating for decades. If they need more 
> capacity they will expand existing installations. They don't need to 
> 'build more refineries'. This usenet folklore about, "Environmentalists 
> won't let them build more", is so much crap. Grow up.


As hard as it may be to believe, oil companies have faced
declining margins and have been able to do little investing in
new technology beyond production/exploration since
1983.

"Oil companies" mean producers in this, not leaseholders.

--
Les Cargill