[Smokin' Joe]

Refinery bid on crude oil is determined in part by the price the refineries get for their products. If product prices are really low, then the refineries cannot bid much for crude oil. If they can not pay much for crude oil, then the exploration companies (or divisions of really major oil compaines) cannot underwrite the 2 million and up it takes to drill a well. So drilling stops until there is a shortage of crude, prices climb, first at the pump,then at the wellhead, and exploration picks up.

Funny, how some people think this is crippling, but those of us in the oil exploration industry are not only grateful for steady work, but for pay raises which were virtually nonexistent from 1982 to 1996.

[softwarecreator]

Funny, how some people think this is crippling, but those of us in the oil exploration industry are not only grateful for steady work, but for pay raises which were virtually nonexistent from 1982 to 1996.

Oh well, when you put it that way I feel much better.  I'm happy that you're happy.  After work today I'll go to the gas pump and make your day just that much brighter!!

[MNJohnnie]

Funny, how some people think this is crippling, but those of us in the oil exploration industry are not only grateful for steady work, but for pay raises which were virtually nonexistent from 1982 to 1996.


Yeah, funny how no one was worried when you were all going in the toilet then. Same people who scream bloody murder about "Benedict Arnold CEOS" didn't raise a peep at %.99 a gallon gas.