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Re: biofuels and further offfffff-topic

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Rhkratzse(--nospam--at) wrote:
In a message dated 11/1/07 1:00:53 PM, Scott.M.Haan(--nospam--at) writes:
Not to be a conspiracy theorist but maybe the reason more refineries aren't
being built is the oil companies don't think they'll get a return on the

Even though they're making absolutely off-the-scale profits?

To make up for their terrible profits in the past, sure.

BTW, there are really no major "oil companies" involved in refining any more. I think Exxon might have a couple, but small players like Valero and Frontier have bought up most of the refineries that the big boys used to run. With all the environmental regs, plus the lack of profitability from declining infrastructure that can't be addressed without ten years' worth of environmental hearings and the like, they just finally decided to drop out of the business altogether.

Thus, most people think of "big oil" like Exxon and Texaco, etc., as being the "upstream AND downstream" operators, but that hasn't been true for a few years now. The "big oil" companies are almost exclusively exploration and petrochemicals any more.
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