On Tue, 09 Oct 2012 02:11:55 -0700, Gunner
wrote:

On Tue, 09 Oct 2012 08:35:38 +0700, John B.
wrote:

On Mon, 8 Oct 2012 12:53:23 -0700 (PDT), Too_Many_Tools
wrote:

On Oct 8, 11:08*am, "PrecisionmachinisT"
wrote:
"Too_Many_Tools" wrote in message

...
On Oct 7, 6:59 pm, "Stormin Mormon"

wrote:

About 27 cents a mile, to make my Blazer go.
Remember that the next time a conservative wants America to stay addicted
to foreign oil.
TMT

Wait till the last phase of *the Keystone pipeline gets completed....and
starts providing ready access of Canadian oil to the global *marketplace,
where there are plenty of buyers who will be more than willing to outbid the
average US consumer.

The pipeline would not have altered the current pricing fiasco a
single penny.

The problem is that companies do not want to invest in
infrastructure..refinery assets..so any disruption causes wild price
swings in the futures market.

Oil companies make hundreds of billions off the American public and
yet do not build any reserve into their supply line.

If you want this behavior to stop, the Government would need to
require (regulate) the oil companies to have reserve built into the
supply line...which would mean that the companies could not squeeze
every last penny out of the consumer.

Allowing companies free range in the "free market" (remember that
these companies get billions of dollars of tax payer welfare) means
that the consumer is the last concern of your oil company CEO.

TMT

Interesting. Strange that while I was associated with the oil
business, for some 20+ years, I never saw an oil company that did
anything but produce at maximum capability for the life of the field.

Kern Sunset/Kern County shut down a LOT of its production in the mid
1980s..when oil went to $8 a barrel, from $27. It was costing $12 to
produce.

Your production costs seem pretty high for those years. Off shore
production in Indonesia (about 100 ft water) in the same period was
cheaper then that, although granted costs per barrel go up as
production decreases and there aren't many small offshore wells :-)

We lost 55 businesses in the first 6 months and some 8,000 of our
local population by 1989.

http://www.aapg.org/explorer/2006/01jan/crash.cfm

What "regulation: would you suggest for a company that has already
pulled out all the stops? Perhaps cut production say 10%? If all oil
companies cut production by 10% then that means there is 10% less oil
in the pipe line and the price go up again.

You obviously know nothing about the petroleum market.

"The best government is a benevolent tyranny tempered
by an occasional assassination." --Voltaire
--
Cheers,
John B.