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Strategies & Market Trends : Ask Vendit Off-Topic Questions -- Ignore unavailable to you. Want to Upgrade?

To: Walkingshadow who wrote (7878)	4/17/2005 12:22:08 PM
From: John Carragher	Read Replies (1) \| Respond to of 8752

you are very subjective in your remarks. present oil refineries cannot expand. local politics and also i believe federal laws passed under Clinton administration stated any upgrades to mfg, required a complete upgrade to all of the facility to meet environment standards. if refineries were so profitable why would Mobil have sold Paulsboro new jersey refinery( one of three sold due to losing money). in 80's.. do you realize these refineries never made money in last two decades. Sure they are making money right now with oil prices rising all the time. but if prices are dropping the first to lose are refineries and marketing. If there is so much money in marketing why do you see terminals, pipelines, barges, service stations being sold off by the majors. May i suggest you get into specifics a little more before making such broad statements. If any truth to price fixing federal gov. would have come up with findings. You will always find a few in any industry trying to fix price but not your major oil companies like xon, etc. Refineries and marketing are high risk operations tangled up in all kinds of politics.. i suspect you will see major integrated oils pull back further from these operations and be more of exploration operation. Smaller more local companies will run these operations will a lot less politics to hold jobs and overlook a lot of environmental and safety operations. show me an oil company that will want to replace all the underground tanks at service stations, facilities etc to deliver hydrogen. I wonder where the money will come from for the capital investments required. I wonder what the payout will be to distribute it.