"<<These world class operations had surprisingly humble origins. In 1876, Chevron pioneers used WAGONS and MULES to haul two primitive stills to a spot near Pico Canyon, Calif., the site of California's first producing oil wells. The stills, each about the size of a garage, were used to heat oil at the prodigious rate of 25 to 40 barrels a day.>>"
Tom, Thank you for sharing it with us. I bookmarked it for future references. Yes, it is a very interesting and a educational site. Inspirational too. Who would imagine that with its fascinating but very humble beginning as described above, Chevron could have grown to become one of the largest oil companies in the world with market capitalization of roughly 50 billion US dollars today.
Have you heard of the following argument before; "granted tons of oil is found in the AIPC concession, how on earth can the company retrieve it to market?" Would you believe that even some analysts at Merryl Lynch and other big brokerage firms have raised similar concern to shy away from the stock. Wow! Considering the evolutionary advantages of modern transport technologies and the benefits that can be derived from them when used creatively and that the closest pipeline to the AIPC site is just 17-30 miles away, I often wonder if this is really a continued valid intelligent question worth pondering and spending time on.
Consequently, just hesitantly love it when most of the things I hear and read are mostly dire predictions of doom and gloom to come--Asian countries collapsing one by one, world plummeting oil demands, good companies stocks still going lower after reaching their 52 week lows, huge stock market crash and recession following in the US, etc, etc. Could this mean that opportunity in the markets still abound?
Frankly, I love Holidays too!
regards, sycamore |
