Archived posting to the Leica Users Group, 2006/04/27
[Author Prev] [Author Next] [Thread Prev] [Thread Next] [Author Index] [Topic Index] [Home] [Search]Ted Grant Photography Limited 1817 Feltham Road Victoria BC V8N 2A4 250-477-2156 ----- Original Message ----- From: "Marc James Small" <msmall@aya.yale.edu> To: "Leica Users Group" <lug@leica-users.org> Sent: Thursday, April 27, 2006 2:29 PM Subject: Re: [Leica] Re: Small cars > 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