posted on Mar, 20 2008 @ 10:34 AM
Thanks, Hot_Wings, for an interesting thread.
I followed my thoughts and looked up a little info. When I drive to Bakersfield, I am in awe of how many new wells are going in, can't get 'em in
fast enough, even though there are no new refineries. What's up? Of course, having oil prices so high is indeed good to make a profit drilling new
Because most major non-OPEC countries have private oil sectors (Mexico is one notable exception), their governments generally have very little
control over production levels.
So, by having oil men in government power, we de facto have control.
The United States has far more refinery capacity than any other country, with 149 of the world's 691 refineries, and a crude oil refinery
capacity of about 16.9 million bbl/d (not including territories).
Ok, so we consume a lot of petrol, but we still have high ref cap. We even get it from refs in the Caribbean. So, without having to build new refs,
oil co's continue to make huge profits.
I just keep wondering where is all that oil from Bakersfied going? More oil sure hasn't brought the price down. If we've been refining oil for
Mexico, why can't we have that for our consumption if Mex wants to buy from India?
Sigh...I'm confused...the cabal in Washington really is the enemy of the people.