Quote:
Originally Posted by Smed
This weekend I watched a show that had some democratic congressman as a guest. He said taht the oil companies are not even exploring the areas in and around the US that they are legally allowed to. That essentially they are just using the current crisis get lawes changed so that they can drill in protected areas in the future.
In other words - the oil companies do not really want to increase supply now. They want the artificially inflated prices to continue, but they do want the l;aws changed so that they can make even more profits when oil really is scarce.
Anyone else hear this? Do you believe it?
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Yes and no. Big oil companies will do that from time to time, but with oil prices right now, they are f-ing nuts not to drill. Nothing but money to be made. Last year in Alberta the big oil companies refused to drill even though oil prices where good, the reason was the the service industry was greatly over charging the oil companies, so they basicly shut down the exploation part of their buissenss(drilling rigs, service rigs, oil hauling buissnesses etc). That hurt alot of people up here. I belive they had doubled tripled their prices compared to the year before. Lots of people made money that year, but last year was a different story, everyone was trying to sell their trucks, cars, and toys just to keep there huge house they had just bought. But for me im good because i contract operate for 3 different oil companies, i look after, maintian and keep the oil and gas wells producing, i also take care of gas compressor staitions. You always need someone to keep the oil and gas flowing.
