[thackney]

They are not re-investing

They are investing huge amounts of dollars in Alaska.

[southlake_hoosier]

They are? What about this report:

http://www.freerepublic.com/focus/f-news/1497483/posts

I know that is a specific area, and Alaska covers a lot of ground, but is there something happening that is not being reported? And, if it is, why would the Oil Companies remain quiet about it? Especially now.

[gogogodzilla]

Yup, the oil companies are investing millions to produce more crude oil.

Which doesn't do a d@mn thing to reduce the cost of the gasoline you and I buy at the gas station.

For there could be a 900 million billion trillion quadrillion quintillion barrels of oil sitting in storage and gasoline for still be $2.50~.

Because America has only 17 million barrels/day refining capacity and a 21 million barrel/day demand.

It looks like oil company executive are just as stupid as knee-jerk liberals, in that they simply cannot understand that there are two sides to the fuel coin. One is oil, but the other is gasoline. If you only drill for oil, you cannot satisfy consumer's demand. And likewise, if you build refineries only, you're doomed to failure. Only when the refinery production is equal to supply can you meet the needs of the consumer.

So tell me again why the oil companies are investing in projects that'll get them more oil, but won't actually to a danged thing to meet the consumer's demand for gasoline?