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Politics : Dutch Central Bank Sale Announcement Imminent?
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To: sea_urchin who wrote (2680)12/16/1998 8:38:00 PM
From: William JH  Read Replies (1) of 81137
 
I read an article recently about the very heavy crude oil that is produced in the fields around Bakersfield, California. It is so thick that is will barely pour out of a jar at room temperature.

This oil sells for about $5.00 bbl less than light sweet crude. The producers need about $11 bbl to break even, at the time of the article they were getting $6. Yet they kept producing, and hoping for a miracle, because if production stopped, the machinery and pipes associated with the well would all corrode and have to be replaced if the well was ever to be reopened.

I wonder if this is not the case with some gold mines, particularly in North America. Once closed, there would be costs for environmental cleanup, then re-permitting if they were ever to be opened again.

I'm way over my head here, just throwing this out as a thought.
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