Booster:

I'm not going to argue with you just for the sake of arguing..

You again completely ignore the fact that oil is currently trading around $70 and has been over the $45 mark CLL needs to make it's financial commitments since March.

Market conditions, especially as of late, change at lightning speed. To go back and take selective quotes from years past ( and market conditions past) is disingenuous and franky speaking, grasping at straws.

Now that $200 million revolving line of credit you mention..I clearly remember people saying that the terms of that line of credit were much to high to start with. Now you're really stretching it to claim In 2009, he then realizes that the $200M credit syndicate was not reasonable so he walks away from that credit facility (WITHOUT building Algar) which of course is NOT TRUE..

What he obviously thought was unreasonable were the new conditions being placed on keeping the line of credit post market meltdown. So although you may consider canceling a line of credit with new and usurious rates to be poor management,,I would call it being prudent.