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Tuesday, February 17, 2009

Save Money by Spending Money?

These are unprecedented times, harkening back to the Great Depression of the early 20th Century. Economists may differ in opinion about how to remedy the economy, but the prevalent idea as we look at the Great Depression in hindsight is that if the government had flooded the economy with money, the "Great Depression" might have just been the "Burdensome Recession". Enter Ben Bernanke and Obama's Stimulus Plan ... $800+ Billion (yes, Billion with a B) in free money to the economy. Well, as free as printing $800+ Billion can be.

What's scary is that this has never been done before. Great Depressions don't come around so often, so no one has yet been able to test the flooding-the-market-with-cash theory. It may not work; it may just put the nation deeper in debt and make only certain people richer.

That's why we at BBA are firm believers that the best way to save money is to, well, spend less. If you can cut costs and maintain revenues, do it. But that's only half the story. Sometimes adding smaller costs will let you cut out bigger costs.

Take for example our Reliability studies services. Yes, our services may be an extra cost, but if our Reliability services can improve the reliability of a 200 kBPD refinery by 0.25% (very achievable), that refinery can realize an increase in revenue by more than $7 Million dollars (yes, Million with an M). And that's just at $40 per barrel oil prices.

So while cutting costs is a sure-fire way to save money, sometimes it is well worth a small investment to capitalize on much bigger cost savings within your reach.

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