On 23/04/2011 6:25 AM, Harryk wrote:

A very nice apologetica that conveniently makes no mention of the greed
factors.

I love this line: "In other words, it's not profitable to build new
refineries and refine more oil because the lower price of gas won't
provide sufficient return on investment."

Right, I believe that b.s., just as I believe all the other oil company
lies.

Funny, they start your own oil company and prove them wrong....

oh wait, Harry is broke.

Besides, I would not invest and here is why.

I and many other buddies say pool $10 billion to build it. So once
built, it costs $14 billion, $4 billion more than was priced in. Union
crap, bad estimates, greedy management - maybe some mafia.

Then you start processing oil. Next the city, county, state and feds
get all horny with taxes. The plant depreciates and you still haven't
seen a return on investment. Unions, bad manage screw you over like a
pig for an Hawaiian roast. Bankser that covered the capital short fall
start turning the screws, and you can't sell your diluted stock without
a write down. To add insult, Obama printed so much debt that relative
to the oil itself and gold, you are lucky to get 50 cents for the dollar in.

And that is the bright side, as Obama might try to dictate you sell the
motion potion for below cost. Then you might b worth 10 cents on the
dollar on a good day.

Or, you can go to anotehr country and refine it, be able to ship
anywhere in the world and you can but bad management, bust unions and
whatever it takes to get a proper 15% return on investment.

Or if you don't want to go international and are risk adverse, just buy
an oilfield or gold and wait.

So why invest in a hyper-inflationary anti-business USA again?

--
I can assure you that the road to prosperity is not paved with
fleabagger debt.