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Originally Posted by Eric5273
Been busy. Had to move my company to new offices, which turned out to be just about the most time-consuming thing I've ever had to do.
The oil companies are certainly making enough dough that they can afford to replace old machinery, if that is indeed the problem. Interesting though that none of the oil execs used that as an excuse. Instead, they seemed to point the finger at OPEC, claming that OPEC Is not pumping enough oil. And as we all know, OPEC claims the bottleneck is the refining capacity. Both groups point the finger at eachother as if they are two entirely seperate industries. Yet most of the oil companies are at least partially owned by the same parent companies that also have interests in OPEC. For example, 25% of Exxon/Mobile is owned by the Saudis.
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It isn't their choice, call the EPA.
Not sure where you got the refining capacity quote as the latest is in this article: http://money.cnn.com/2008/05/29/mark...ion=2008052910
Refinery utilization for the week came in at 87.9%, unchanged from the previous week and less that what analysts were expecting. Analysts were looking for a 0.5 percentage point increase to 88.4% operable capacity, according to the Platts survey.
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Last edited by Wagner; 05-29-2008 at 12:04 PM.
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