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To: JDN who wrote (62075)9/29/2004 7:21:50 AM
From: John Carragher  Read Replies (1) | Respond to of 64865
 
a lot of refining capacity was built off shore.. for example with environmental and gov. obstruction many international oil companies built refinery capacity in our countries and import oil that has been through part or all of the refinery process.

I can remember major investments made in south america to build refineries there and import finished product. So we cannot say we are refinery limited in states. We have built huge refinery capacity in other parts of the world.

Big problem is the political stability of the governments in countries like Venezuela. Large refinery capacity was built in Venezuela twenty years ago to increase refinery capacity and avoid environmental laws in the states. Now we got a dictator who controls a great deal of our imports and who hates United States.



To: JDN who wrote (62075)9/29/2004 2:41:55 PM
From: shoe  Read Replies (1) | Respond to of 64865
 
Hi JDN:
I hope you survived the severe weather down there in Florida. I'm just a bit younger than you and less highly educated; however, we're on the same page in many respects.

Here in California we used to have a pipeline that the environmentalists and others essentially shut down by preventing an upgrade to it. Now our gas in $2 plus and nobody makes the connection. We have a bunch of old refineries that, as they shut down, will make the situation worse. Nobody wants a refinery in his/her backyard and what oil refiner in its right mind would want to build one here? Maybe our new governor can make a difference. Meanwhile our legislature is passing bills regulating how ducks are fed or what mascots schools can use.

I'll give credit to Alan Greenspan for saving us from a depression, but Bush was smart to lower taxes at least until the economy really turns around. Wish he'd do something about the AMT, though.

Regards.



To: JDN who wrote (62075)9/29/2004 5:02:17 PM
From: MJ  Respond to of 64865
 
JDN

A lot of people lost in that crash-----small number of shares trading because capitalization was small so no liquidity when the crash began. And, as I recall it was fast.

Cycles we have-----booms and busts-----and repetition.

mj