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Gold/Mining/Energy : Exxon Mobil (XOM)

XOM 120.19

+1.7%

1:03 PM EST

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To: flint who wrote (64)	5/18/2001 1:19:42 PM
From: Michael L. Voorhees	Read Replies (1) of 585

With oil company profits at an all-time high. What, pray tell, is stopping them whatsoever from increasing refinery capacity? It appears natural economic forces will more than compensate for this production bottleneck. In addition, it appears that any reasonable prognostication could have pinpointed the need for increased refining. Why was increased refining capacity not initiated years ago? Simple economics will solve this problem. But if the supply shortage is a fabricated event, look for consumers to shift in droves to alternative energy sources to the extent that it actually could hurt oil company profits in the not too distant future.

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