The answer to the question what kind of oil company could lose money would be a government-owned oil company, viz Pemex in Mexico. The same answer would be accurate for a golf course in the middle of very populous San Francisco. How could you loose with all the beautiful people showing up? Maybe the beautiful people prefer to pay higher green fees?
I would say that it is typical of non-entrepreneurial middle-class professionals (and up) to make their fortune on the backs of the poor by providing (or withholding) government services---usually by blaming the entrepreneurial class for the poor's existence while doing so. But if we include all the buying, selling and inventing associated with golf, maybe it makes sense for the San Francisco government to take money from the development of parks (supplied by higher levels of government) to subsidize courses sitting on fabulously expensive real estate.Too late to turn back now. Play on!
P.S. When people talk about shooting a round of golf, they don't really mean it! They are confusing shooting with hitting.
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