"G.R. Patterson III" wrote in message
...


Tom Sixkiller wrote:

"Jay Honeck" wrote in message
news:Ra1sc.10707$af3.571010@attbi_s51...
When it is profitable enough then more refining capacity will be
built.
On
the production side, the market is telling you that it is not very
attractive to drill at recent prices.

I was under the impression that restrictive EPA regulations had
essentially
halted new refinery construction?

And any NEW drilling.

And any existing well that ceases to produce has to be permanently capped.
When OPEC
drops the price down, an expensive well must either run at a loss or close
permanently.

Quite. And how many of those wells were capped using old technology that
only extracted a fraction of what's down there?