Posted by jackinok on August 09, 2012 at 07:30:27 from (162.58.82.136):
In Reply to: Re: propane posted by LAA on August 09, 2012 at 06:05:57:
heres a news flash for you--the largest single entity in the oil buisness anywhere is the US gov. bar none any where. oil companies can make money on one barrel or 20 million a day.in fact they can make money and produce absolutly nothing!I recommend you look at a oil companies income report sometime. youll find theres far more barrels of oil held in reserve than they are producing,why do you think this is? why would you buy oil if you had your own? simply because they want to keep prices up? maybe they havent got around to producing them yet?maybe theres not enough pump jacks to go around. if they were simply after money,why not just shut them all down for thirty days or so? at the end of that time it would sell for far more than it does now. Ive drilled a lot of wells in my day, was a geologist for a while and lived on these rigs for many years,funny thing,MAYBE 10% and generally less of all the oil wells we drilled were ever produced. most were simply tested, to get some idea of the reserve and capped off. the simply fact is if oil is worth $80 regardless of where it came from that day why NOT use forigen oil? its selling for the same price as yours is on the same market to the same customer.why not use it and save yours for later? using american oil wouldnt lower the cost,and very very likely would increase it. pull more from the ground here and the saudis pull less price stays the same, they decrease production enough and you and i will be waiting in line for gas ,or buying horses.Maybe you dont remember the oil shortages of the seventies?
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