Oil is worthless if it can't be transported to a refinery and turned into gasoline or diesel," Mares says, adding: "If you control the infrastructure around an oilfield, you control the price."Tycoons like John D Rockefeller understood this. He owned railroads and refineries and was by some counts the richest man to ever live.Everything changed in the Seventies, a chaotic decade for the industry, after which it became more profitable to own the oilfields themselves. But we are returning to the old days, Mares says. "If you don't have infrastructure and downstream access, you can't guarantee a fair price for your oil, and whenever the market is oversupplied, your marginal price is zero.
Oil is worthless if it can't be transported to a refinery and turned into gasoline or diesel," Mares says, adding: "If you control the infrastructure around an oilfield, you control the price."<br><br>Tycoons like John D Rockefeller understood this. He owned railroads and refineries and was by some counts the richest man to ever live.<br><br>Everything changed in the Seventies, a chaotic decade for the industry, after which it became more profitable to own the oilfields themselves. But we are returning to the old days, Mares says. "If you don't have infrastructure and downstream access, you can't guarantee a fair price for your oil, and whenever the market is oversupplied, your marginal price is zero.
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