[Leica] Re: Small cars

[ricc at mindspring.com (Ric Carter)]

Marc--

Bullshit!

> From Bloomberg News
> April 13, 2006
>
> Exxon Mobil Corp., the world's largest oil company, raised Chief  
> Executive Rex Tillerson's pay by 33% last year to $13 million as  
> record energy prices boosted the company's profit to the highest in  
> U.S. history.

That's $25 a minute, sitting-standing, sleeping-waking, taking a  
dump, diddling himself, or screwing me at the pump.

That's excess, plain and simple!

Ric Carter




On Apr 27, 2006, at 5:29 PM, Marc James Small wrote:

> At 01:55 PM 4/27/06 -0700, Ted Grant wrote:
>
>> What really tick's me off are all the oil company owners, not  
>> mentioning
>> names and executives who are laughing all the way to the bank  
>> ripping us off
>> going doing so.
>
>
> Ted
>
> First, Canada has been a lot more reasonable about opening oil  
> fields than
> has the US in recent years, so you guys are getting wealthy of the  
> woes in
> the US, as you are an oil-exporting nation, though I've not yet  
> heard of
> the Dominion applying for membership in OPEC.
>
> Second, the media makes much of gross profit but ignores the  
> reality that
> NET profit for the oil companies is not increasing.  The bif five oil
> companies own very few of their wells:  during the Carter  
> Administration,
> the US allowed most Middle Eastern nations to nationalize their oil  
> fields,
> so that Exxon or BP or whoever has to buy oil at the price set by the
> controlling nations.  These oil comanies have to buy oil supplies to
> replace that which they have sold, so it LOOKS like they are making  
> a bunch
> of money but they are not, as they have to reinvest most of the  
> money being
> made in new oil.  Thus, they have humongeous GROSS profits but the net
> profits are not increasing and several oil companies are experiencing
> decreasing net profits.
>
> There are a slew of answers to this but they all boil down to  
> opening new
> fields, especially those in the US and Canada such as ANWR, building a
> SHITLOAD of new refineries, taxing imported petrochemicals at a  
> level to
> encourage domestic production and, of course, re-establishing the  
> oil-shale
> processing infrastructure built up under the Carter Administration  
> and then
> axed at the tail end of that Administration.
>
> There is more to this, but that "windfall profit" and "excess  
> profit" stuff
> is just so much BS.  The oil companies are not hurting but they are  
> not
> making in actuality anything on the nature of what we are being told.
>
> Marc
>
> msmall@aya.yale.edu
> Cha robh b?s fir gun ghr?s fir!
>
>
>
>
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