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 - Tractor Hydraulics - The Basics - by Curtis Von Fange. Hydraulics was one of the greatest inventions for helping man compound the work he can do. It’s amazing how a little floor jack can lift tons and tons of weight with just the flick of a handle. What’s even more amazing is that all the principals of hydraulic theory can be wrapped up in such a small package. This same package applies to any hydraulic system from the largest bulldozer to the oldest and smallest tractor. This short series will take a look at the basic layout of a simple hydraul
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