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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: tejek who wrote (532170)	11/24/2009 12:31:06 PM
From: combjelly	Read Replies (1) \| Respond to of 1573930

"And long term.....this is a permanent closure. And they couldn't sell the refinery." My point. This reinforces my belief that the industry is convinced about peak oil being close. Not overall maybe, but definitely for light, sweet crude. The only reason why this happened is that no one was convinced they would have the 10 or so years it would take to amortize the purchase and make a profit. Despite the certainty of periods of high gas prices. Which means there were concerns of supply, not demand.