Quoting Removed, click Modern View to see Of course the oil companies are trying to please shareholders. They try to balance production against cost. In one sense, if you don't produce it today, you can never get that lost production back. They have to produce enough to pay for ongoing operations.
Refineries are a little different, they have to run at a loss because shutting down means even bigger losses. For an integrated oil company it's OK, losses in refining is usually made up in production. A company that only refines with no production is hung out to dry when the price of crude makes it impossible for them to make a profit. With low crude, the refiners are swimming in cash. It's a dog eat dog world, much as everyone would like to think Mr. Big is pulling the strings somewhere. Each oil company or refiner is eager to cut the other guys throat. Sometimes consumer win and sometimes they lose.
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Today's Featured Article - Chores - by Frank Young. The ceaseless passing of time! It is at once our friend and our enemy. It measures our progress and it makes us old. Like most features of our life, few things are all good or all bad, and most such judgments depend on our own perspective or viewpoint. In our particular hobby, we enjoy the nostalgic return to the days of our youth as we recreate many of the scenes that took place on the family farm that served as the stage for the first few acts of the play that is our live
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