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Pastimes : The California Energy Crisis - Information & Forum -- Ignore unavailable to you. Want to Upgrade?

To: Ron who wrote (541)	6/15/2001 12:52:08 PM
From: Hawkmoon	Respond to of 1715

My apologies Ron... I didn't mean that "griping" comment personally. I should have the 3rd person instead. I also am relatively neutral (though it may not sound like it). The petroleum industry went through an incredible slump over a 10-15 year period and many of their refinery operations are decades old and deperately in need of replacement. Additionally, the relative unprofitability of exploration led many drilling rigs to fall into disuse or to the scrap heap. And in the meantime, energy use has only increased as the telecommunications revolution and our population has increased. What people have to realize is that the tremendous capital expenditures we've seen in the internet and telecommunications has happened at the expense of the lower yielding energy sector (money goes where the greatest return is). We just can't build an IT revolution, or "new economy", upon a energy foundation that is rotten to its core. And to rebuild that energy infrastructure is going to require money, and a lot of it. And someone is going to have to pay for it. And guess what that's gonna be... :0) It's all just part of the natural ebb and flow of the economic cycle. Hawk