| from what I have been reading when they were interested oil was around $10 a barrel and it would of cost them $30-$40 a barrel to extract it and refine it for use....so back in the 80's it was not feasable...then the govenment locked up all the oil fields for exploration and the oil companies had no other choice.....now at $135 a barrell it would now be somewhat feasible for them to drill and still make a profit.......the more i read from various sources the more I believe what Steve said in another thread...that the big oil companies have no more pull with the govt...so they chose to take buisness elsewhere...can't say I blame them...but then 24 years ago were they still thinking about short term profit vs. long term revenues.... |