Re: Motivation for the Oil Barons

On Jun 5, 7:46 pm, DB <a...@[EMAIL PROTECTED]
> wrote:

> Foofoo, no cites. I've already posted numbers. Capacity has been 85-90%
> and stocks are growing. They are producing more fuels then are being
> demanded. Here are the numbers:
>
And:http://www.marketwatch.com/news/story/crude-futures-end-one-month-low.=
...

Oh, please. You are looking at a 1-2 week "correction" in a huge run-
up in crude prices that broke all previous records.

As the cited commentator says, "coupled with slowing consumer demand
of gasoline and a strengthening dollar, it's of little surprise to see
crude prices back off," .

So, your citing this news story is a good indication of your
dishonesty on this issue.

> You can find any truth you want on the internet.

As apparently you have.

But here is more:

"...getting an oil refinery built is next to impossible, hence the 30-
year construction drought. There will always be environmental
activists who fight any new proposed refinery, regardless of where it
might be located and how environmentally safe it is. And our
environmental rules give them the upper hand."

http://www.reason.org/commentaries/moore_20050901.shtml

"... the chances for new refinery construction in the U.S. are slim.
To get an idea of what it takes to build a new refinery, one can look
at Arizona Clean Fuels Yuma. This company has been trying to build a
new refinery for six years, and not a single shovel of dirt has moved.
The company is still fighting its way through city, county, state, and
federal permit procedures. Between various levels of government,
environmental organizations, and community groups, there are seemingly
endless obstacles before construction can begin. Even if the stars
align, Arizona Clean Fuels Yuma will not be running until the end of
the decade."

http://www.fool.com/investing/general/2005/09/14/new-refineries-not-a-chance=
..aspx

"...improving an existing refinery or building a new one is a slow and
capital-intensive business. Firms tend to be very conservative in
their investments, since refineries have decades-long life-spans,
during which prices and profits can fluctuate wildly. It can also be
difficult to find a site and obtain the right permits=97one of the
reasons why no new refineries have been built in America for over 30
years....Cambridge Energy Research Associates (CERA), a consultancy,
calculates that capital costs for refineries and petrochemical plants
have risen by 76% since 2000."

http://www.economist.com/PrinterFriendly.cfm?story_id=3D11453090

Fred Weiss