Ferrari Mailing List: Re: Illinois speed traps

[Ken Rentiers (rentiers]

On Aug 8, 2008, at 9:20 PM, Stephen Sherman wrote:

> ARE US oil companies drilling on the leases they have in the Gulf or  
> land, NO!

The oil companies lease tracts by bidding. They pay FedGovCo an  
initial deposit and an annual rental for the term of the lease. If the  
tract is not developed the lease is lost. You can bet the very first  
thing that happens after the money has been spent is exploratory  
drilling. And, more often than not, what appeared to be a promising  
tract turns out dry. So they don't continue drilling. This happens the  
majority of the time. Finding oil is ex-pen-sive. There's your  
"windfall profits" right there. Jesus Christ, Stephen, do a little  
research before spouting off, you sound like a goddamned fool.
> Have they built any new refineries in the past 25 years, NO!

Can't get the permits. Every time they try to put up a new refinery,  
or tap into the vast proven fields off CA or FL they get sued by the  
Cariboosters and the Firend of the Polar Bear. See "research" above.
> Why is EXXON MOBIL getting out of the service station bussiness TOO  
> LITTLE PROFIT!

And the corner lots are worth a fucking fortune! They have  
shareholders to answer to. ROI. That's how this country grew.

I quit - you can't fix stupid.