Maybe this and the already declining Gas prices may turn the Mich Economy around.

[Line Noise]

http://money.cnn.com/2006/09/05/news/companies/chevron.reut/index.htm?cnn=yes
I've long felt that gas over $1.50 a Gallon was real bad for the Michigan economy. maybe there is good news in the future.

[BigWheelinBubba]

<crosses fingers>

[patman]

They're already figuring out ways to make this not quite as good as it should be

"It sounds terrific, but this means nothing for the near-term period," said Tom Kloza, chief oil analyst for the Oil Price Information Service, which surveys gasoline prices daily for AAA. "

Neither Chevron nor Devon would say how long it would take for oil from the well to reach market. Experts say it will take billions of dollars to build the deepwater oil platforms and pipelines needed to extract the oil and get it into world markets.

"At best we're not going to see a drop of oil for five years, maybe seven years," said Fadel Gheit, oil analyst for Oppenheimer. "It's great news for Chevron and even more so for Devon. But you can't hold your breath waiting for it."

:dontknow:

patman

[Sean124]

They're already figuring out ways to make this not quite as good as it should be

"It sounds terrific, but this means nothing for the near-term period," said Tom Kloza, chief oil analyst for the Oil Price Information Service, which surveys gasoline prices daily for AAA. "

Neither Chevron nor Devon would say how long it would take for oil from the well to reach market. Experts say it will take billions of dollars to build the deepwater oil platforms and pipelines needed to extract the oil and get it into world markets.

"At best we're not going to see a drop of oil for five years, maybe seven years," said Fadel Gheit, oil analyst for Oppenheimer. "It's great news for Chevron and even more so for Devon. But you can't hold your breath waiting for it."

:dontknow:

patman

they like high oil prices. I don;t know why they'd need to build new rigs ther are already sevral deep water rigs sitting in lousianna dry docked becuase the wells ran dry. At least thats what ive been told. they aren;t chevron rigs but if they are sitting around why not put them to work.

[Belowme]

artifical stimulus...if you dont bring a product to the forefront, it keeps prices inflated due to 'increased demand'. hell, that is why big oil has been fighting ANY new refineries for over 2 decades now!

[patman]

artifical stimulus...if you dont bring a product to the forefront, it keeps prices inflated due to 'increased demand'. hell, that is why big oil has been fighting ANY new refineries for over 2 decades now!


X2 GOSH! first I agree with Sean on a differant thread, and now you! If I end up finding common ground with uluz.....MAN! I'm such that the Apocalypse will be coming soon:icon_eek: :laugh:

patman

[QUASAR]

They're already figuring out ways to make this not quite as good as it should be


What a suprise.

Look what we found!!!!! Now lets pretend we never found it!!!!!