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"Constantly replacing rusting pipes is a serious financial drain on oil producers worldwide [...]" A serious financial drain on $20-$50 billion dollars profit.
by coderdude 16y ago
"Constantly replacing rusting pipes is a serious financial drain on oil producers worldwide [...]"
A serious financial drain on $20-$50 billion dollars profit. (Exxon Mobil, 2009 and 2008).
- dmfdmf 16y agoThe absolute profit numbers are misleading. These companies have huge capital investments, so the return on capital invested is not excessive but about average for other capital intensive industries. All companies try to reduce cost, so no surprise that oil producers want to minimize "serious financial drain", i.e. the cost, of maintaining pipelines, etc.