with increased capacity.Trend toward buying some old, undervalued refineries and "cranking" up U.S. production...Bolds well
In fact, the large, efficient refineries not only survived, but have become bigger. Over the last six years, refiners added 1.2 million barrels of production capacity, equivalent to building one additional medium-size refinery each year, according to the EIA, which keeps energy statistics for the government. At the same time, demand grew by 1.4 million barrels a day.
And efficiency improvements - called "de-bottlenecking" within the industry - can only go so far, industry experts said.
Demand for refined products, especially gasoline, is expected to grow at an annual rate of 1.6 percent for the rest of this decade, requiring an additional 260,000 barrels a day of gasoline and other fuels each year, according to Goldman Sachs.
Fitzthebil, I bet you never disliked or criticized a stock you were invested in or a company you were aligned with. So much your blind by your confidence. NR has nothing to do with refineries upgrading, or demand for gasoline. Fact is, refineries can't come close to handling the amount of crude produced to date. Operators have their valves cut back because they don't have anywhere to go with what they are getting. The fact that you have to go outside their realm to find good news night tell you something.
NR is in the position to benifit from "Drilling" operations. With BHI getting into the fluids side, NR has to be scared to death. They have either let go (direct or indirectly) all their valued mud engs, or the ones that are left are so strung out, they can't compete with a company that is diversified enough so that one leg can support the other one while it gets going. NR is scared, or they are just dumb. The conference call was the same blah blah blah as it's been for 5 years. Show me one time where these incompetent putz's have forcast promise and came through on what they said. You people approach this stock so blindly that I bet you could find the same kind of postive feeling about being sent to death row. Next thing we would hear from you is, "we'll the food down here is great, I'm glad to be here." Substance people, where's the substance. Blow away the smoke, break the mirrors, and look at the truth. USLLA is driving the NR's waste prices through the floor. Well problems are driving expenses through the ceiling. Hint people: BAD COMBO! Ask management about the 15 barges stacked up at the well because they CANNOT unload them and stop thinking this is a strategic approach to doing business. OPEN YOUR EYES !!!! Call an ace and ace, and stop trying to lie to yourselves and anyone else. And DO NOT question those who know alot more about this company than what you read about on the company's website.
But when in doubt, ebays performance was impeccable last quarter, that must mean NR's stock is going to hit all time highs....