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Presumably the point of that is ensure each individual, mostly separate step is completed efficiently, rather than inefficient refineries or drilling being pape
by Panzer04 3y ago
Presumably the point of that is ensure each individual, mostly separate step is completed efficiently, rather than inefficient refineries or drilling being papered over by efficiencies elsewhere.
- Phiwise_ 3y agoOf course not. A better-tuned engine would have made zero improvement on the transport efficiency of the Titanic. The point is to ensure that all of the "unprofitable" but necessary precursors to the small fraction of the business that makes all the money, spooling up established and productive wells during favorable market conditions, are coordinated to maximize those conditions in the face of the uncertainty of industrial prospecting, rather than the interests a contractor might have. In such a skewed-return field, other strategies risk over-fitting; it'd be like if you saw the housing collapse coming in 06 or so and responded by trying to target your retirement investments against a granularity level of individual regional banks. Just shorting an index will pay out far more on average, even if it's more "inefficient".
- im3w1l 3y agoIf a particular segment is unprofitable, then it seems that a) you could outsource it or b) the accounting for that segment is wrong "bp isn't paying bp enough"