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twitterLetter: It’s all good news for the oil industry
Thursday, May 17, 2007 | 7:08 a.m.
Those in the oil industry really have it made. When they experience problems, things get better for them. Problems equal profits. Their good news, bad news situation is very interesting.
Bad news: Many of our refineries are shut down for maintenance or repair. Good news: We can raise prices. Bad news: A pipeline broke down. Good news: We can raise prices.
Bad news: A natural disaster damages our drilling platforms. Good news: We can raise prices. Bad news: There is an international crisis. Good news: We can raise prices. Bad news: We have a refinery shortage. Good news: If we don't build more, we can raise prices.
Bad news: The consumer is beginning to get frustrated and angry. Good news: We control the politicians, not them.
Now you tell me, is that a great setup or not?
Gasoline prices have gone up more than 90 cents a gallon since January while the price of a barrel of oil has remained pretty much the same. No one seems to be defending the consumer. Certainly not our politicians. The consumer only has a bad news, bad news story to tell.
Robert Blanner, North Las Vegas
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