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Posted by coog on Thursday, March 27, 2008 at 10:36:27 :
In Reply to: Re: high diesel prices posted by Todd Wilson on Wednesday, March 26, 2008 at 20:36:57 :
Don't know what Wichita refinery you are talking about,but Ark City was closed in 1996.The price of gas in 1996 was about $1.25,cheaper in real dollars than it was in 1950 (especially so, given the higher tax bite)How much money you suppose they were making at that price point? I am always amazed that we expect the oil industry to operate in a different fashion than all other businesses.Do we demand that farmers grow more wheat when the price is so low they lose money?They have every right, obligation in fact, to adjust production to maximize revenue.
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