Paul, they are not investing in exploration. They look for oil on Wall Street.
On Sun, May 07, 2006 at 05:44:02PM -0700, paul phillips wrote: > I have read in several places that the oil companies are not investing > in new refineries, which is the bottleneck for domestic gasoline supply, > because (pax Jim) of peak oil, that they can not get the increasing > amounts of crude necessary to justify new refinery capacity. > > Paul P -- Michael Perelman Economics Department California State University Chico, CA 95929 Tel. 530-898-5321 E-Mail michael at ecst.csuchico.edu
