Replies to post #1594 on Bullion Monarch Mining (fka BULM)

[geodan]

So far it looks like it does require refining, but it is higher quality than crude pumped from the ground. Since they heat it (cracking in refinery) to getthe oil out and it starts off in different form than normal crude (same reason is not drilled the oil is in form that is precursor to normal crude as less pressure and heat due to shallow depostion) some refining happens with the heating. So the current output would get a preminum to oil well crude. But know they have hopes of creating some refined products, through the extraction process.

But then again we have based things just on the crude price, so if its $30 cost or $40 or $50 or $60, and only gets crude price, that is highly profitible and hugely scalable.

[oldguy]

They have not built any new refineries because there is no need for them. In fact at least 3 were closed last year. In the early 50's 10 miles per gallon was common. Trucks got 4 or 5. Now cars get 30. The only way they would build a new one. Either the feed stock would come out of coal or shale that would require a whole new way of doing it. Then it would have to be cheaper than converting an old refinery.