Why are oil supplies growing?

Originally posted by KazetNagorra
It takes knowing the right people and some significant starting capital. It takes luck and it takes already having some kind of smaller business in the energy sector so investors know you're for real. Given all that it's still not easy since there's a lot of politics involved.

Cry me a river, it takes ambition and commitment, if you produce the figures and can back them up, you're on your way, where do you think the existing companies came from? They had a starting point, not all of them were state entities built with extorted money and political pull. At the root of these companies and many other huge companies there is someone who had the 'good ideas' and the drive to see them through, and the abilty to build a team of other good people, and thank the lord (if there were one) they didn't listen to people like you.

Originally posted by Wajoma
Cry me a river, it takes ambition and commitment, if you produce the figures and can back them up, you're on your way, where do you think the existing companies came from? They had a starting point, not all of them were state entities built with extorted money and political pull. At the root of these companies and many other huge companies there is someone w ...[text shortened]... r good people, and thank the lord (if there were one) they didn't listen to people like you.

Here's how Exxon Mobil got started:

Standard Oil began as an Ohio partnership formed by the well-known industrialist John D. Rockefeller, his brother William Rockefeller, Henry Flagler, chemist Samuel Andrews, silent partner Stephen V. Harkness, and Oliver Burr Jennings, who had married the sister of William Rockefeller's wife. In 1870 Rockefeller incorporated Standard Oil in Ohio.

Originally posted by Eladar
If the law of supply and demand rules oil prices, then why are prices rising? I saw a story this morning about a city here in Oklahoma that is a giant cross road for oil pipelines here in the US. This town is the location of a bunch of oil holding tanks and evidently they are stuffed to the gills with oil. As a matter of fact they are having to build more and ...[text shortened]... storage capacity. Oil companies want to store more oil!

There's something wrong in Denmark.

Are the tanks stuffed with crude, waiting to be refined? My understanding is we haven't built a new refinery in years, and there's a bottle neck in the process.

and, since diesel is the easiest to refine, why do i pay more??

Originally posted by Hugh Glass
Are the tanks stuffed with crude, waiting to be refined? My understanding is we haven't built a new refinery in years, and there's a bottle neck in the process.

I've heard that before too. Why do we keep drilling if what we need is refineries?

http://abcnews.go.com/WNT/story?id=1042788&page=1