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Strategies & Market Trends : Drillbits & Bottlerockets

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To: MulhollandDrive who wrote (7473)	4/10/2001 3:25:31 PM
From: John Pitera	Read Replies (2) of 15481

Mrs. Peel, I also am confident that more power generation facilities needed to be built in and around california as well, the past 5 or 8 years. A similar problem has occurred in the US refining industry. There were 39 refineries closed in the US during the 1990's and not a single new one built. This has given us a situation the past year or two were the refineries have to run almost 100 percent of the time to distill, heating oil, gasoline, and other by products. And the clinton administration was badgering the refineries to run "overtime" to catch up on the inventory shortfalls in the spring of 2000, encouraging them to skip or reduce vital down time for maintenance that refineries require to run properly. There was absolutely no domestic energy policy of note during the Clinton administration. John

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