Archived posting to the Leica Users Group, 2006/04/27
[Author Prev] [Author Next] [Thread Prev] [Thread Next] [Author Index] [Topic Index] [Home] [Search]And that, of course, is how a CEO can walk away with an $800 million check...No excess there. And I love the reference to the Carter administration "allowing" the oil producing nations to nationalize their oil fields. Just like we finally allowed the central American countries to nationalize their bananas... ;-) there is only one reality here, and that is that the piper is now playing "Good Night Ladies," and has presented us with the bill. ___ Sent with SnapperMail www.snappermail.com ..... Original Message ....... On Thu, 27 Apr 2006 17:29:56 -0400 Marc James Small <msmall@aya.yale.edu> 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! " " " " "_______________________________________________ "Leica Users Group. "See http://leica-users.org/mailman/listinfo/lug for more information