Strictly: Drilling and oil-field services Message Board

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Gold/Mining/Energy : Strictly: Drilling and oil-field services

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To: William JH who wrote (74746)	10/3/2000 12:00:09 PM
From: William JH	Read Replies (1) of 95453

It seems that many people regard O & G as a sunset industry, soon to be replaced by new technologies. Around where I live in Southern California, the oil companies seem to be betting the other way. From the late 80's through early 90's, 30-40% of the service stations within 5 miles of where I live closed down. Most of these sat fenced off and empty for the last 5-10 years. Now, one by one, they are being rebuilt and reopened, only the new stations are much larger than the old mom-and-pop type stations they replaced. With property values and EPA and CARB regulations around here, these have to be multi-million investments. Just an observation, it looks like Exxon and Arco et al are not planning on going out of business any time soon.

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