I love the last line:

"Industry officials estimate the cost of building a new refinery at between
$ 2 bn and $ 4 bn -- at a time the industry must devote close to $ 20 bn
over the next decade to reducing the sulphur content in gasoline and other
fuels -- and approval could mean having to collect up to 800 different
permits. As if those hurdles weren't enough, the industry's long-term rate
of return on capital is just 5% -- less than could be realized by simply
buying US Treasury bonds.

"I'm sure that at some point in the last 20 years someone has considered
building a new refinery," says James Halloran, an energy analyst with
National City Corp. "But they quickly came to their senses," he adds."

Denys

-----Original Message-----
From: HP-3000 Systems Discussion [mailto:[log in to unmask]] On Behalf
Of Wirt Atmar
Sent: Thursday, September 01, 2005 4:56 PM
To: [log in to unmask]
Subject: Re: [HP3000-L] OT: The big oil companies - shame on you!

Shawn writes:

> But McGinnis and his group of investors must first take on the improbable
>  task of persuading the nation's financiers and oil barons to pony up cash
>  for the $2.5 billion plant.
>
>  Thanks to the enviro wackos you have almost no nuclear power and almost
no
>  refining ability and now we're really paying for it.

That's absolute nonsense. The proposed refinery has passed all of the
environmental reviews, apparently with ease, and now has all of the
necessary
permits, along with substantial local support. The hold up apparenly lies in
obtaining financial backing.

Wirt Atmar

* To join/leave the list, search archives, change list settings, *
* etc., please visit http://raven.utc.edu/archives/hp3000-l.html *

* To join/leave the list, search archives, change list settings, *
* etc., please visit http://raven.utc.edu/archives/hp3000-l.html *