Re: Really Rich Guys - Top 10 Traders
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And I think I need to learn more about natural gas.
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I have done work on Natural Gas projects for a few different companies and it is unfathomable the kind of money they throw around for no real good reason. The only thing I could come up with is they are swimming in so much cash, they need to spend some of it to make it look like they aren't raping everyone.
Here's a good for instance :
I was working on a 68 mile pipeline going in Eastern Kentucky for Equitrans (Equitable). The pipeline had a hard time getting final approval because it really was not needed in the opinion of many, but I guess they greased the right wheels to get final approval. Construction started late December/early January. They have a good bit of pipe already in the ground for it. They just now decided that they are going to tie into a line at a different starting point, which means they are going to just forget about a mile and a half of pipe already laid. We're talking millions of dollars invested in this mile and a half alone and they're just scratching it like it's nothing.
Original goal of this line was something like 650 million but I was told they budgeted probably 3 times that since this was their first brand new line they were putting in themselves. I got to think by the end of things, it'll be well over a billion dollar project.
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This sounds a lot like: "Let's connect to where the gas is actually coming from." And well, that sounds like a good reason to me.
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