by Patrick ➕follow (60) 💰tip ignore
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Here how this works:
Government well connected contractor win bid for doing work for $100M. Then he is selling this job to subcontractor for $50M. Then this is selling job to his subcontractors for $25M. The last one has to use low quality materials and cheap labor to make some money on project.
Here how this works:
Government well connected contractor win bid for doing work for $100M. Then he is selling this job to subcontractor for $50M. Then this is selling job to his subcontractors for $25M. The last one has to use low quality materials and cheap labor to make some money on project.
I don't want to dox myself too much. It's the refining process. Oils used in asphalt of 30-40 years ago was much different than what we have today. To keep it simple I'll make the math easier. In the 1970's you could refine oil to fuel at a 90% rate. The remaining 10% would be used for things like asphalt. Fast forward to the last decade and there's only 1% left for asphalt and it's the shit oil in the refining process.
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