|Re: Why oil will double....dammit|
Interesting you guys align the Iran deal with oil prices and jobs, not the safety of the world and reducing nuclear strength and power of Russia and China aligned Iran, which the deal has accomplished
Besides, Oil was slammed in 2014-2015 due to Saudis, not Iran. Iran coming back on the market in Feb has actually seen a rising/stable oil price along with it, huh who would've thought
Anyways, good luck with the refinery thing, EPA reg's are not the main reason:
a) yes no new refineries since '76, however refinery #'s have been cut in half yet those still in the game have expanded and doubled capacity. 5 pro-oil repub president terms since '76, and numerous legislators, yet it hasn't happened, why now?
b) 15-20 yr return on investment of $5-10 billion per refinery in a competitive low-margin business, and unpredictable and volatile petro market. Much better ROI in up and mid stream, and for the refineries, better ROI to upgrade and expand current infrastructure
Do we need more capacity? Sure, gas demand will continue to grow globally, but the economics just aren't there yet
Agree on OPEC, f' em
disclaimer: good luck, markets are systems to fool the masses
| Reply to deaconmike - Msg #2648887 - 11/30/2016 20:09|
Re: Why oil will double....dammit
"Tearing up the Iran deal would mean 2m barrels of Iranian oil would
be taken off the world MD supply each day"
Good,,,maybe that might help increase oil production in the US
which would put people in the oil industry back to work.
And hopefully the new administration will eliminate some of the EPA
regulations so we can build a few new refineries & put more people
back to work. I think the last new refinery was built in 1976.
The less we depend on foreign oil the better for us.
We've taken it in the shorts from OPEC over the years,,,
now it's their turn to assume the position.