From: "Gary Britt" 

So your argument boils down to Big US Oil wanted the price of oil to be
LOWER.  Which makes all their oil reserves LESS VALUABLE.

Yeah, that makes sense.  Brilliant....

Duh...

Gary

"Robert Comer"  wrote in
message news:439db82c$1{at}w3.nls.net...
> > That's like saying that supply is high because there is a lot of supply.
>
> Not at all, the supply was high because other countries could undercut
> prices in the U.S. because costs are less. (and there was probably a bit
of
> dumping going on to hurt domestic production.)  It didn't hurt the big
U.S.
> oil companies because they were part of it.
>
> > In other words its a meaningless statement especially as regards the
> > profits
> > of the oil industry and that chart you linked to that is wrong.
>
> Talk to the DOE.
>
> --
> Bob Comer
>
>
> "Gary Britt"  wrote in message
> news:439db659{at}w3.nls.net...
> > That's like saying that supply is high because there is a lot of supply.
> >
> > In other words its a meaningless statement especially as regards the
> > profits
> > of the oil industry and that chart you linked to that is wrong.
> >
> > Gary
> >
> > "Robert Comer" 
wrote in message
> > news:439db2bb$1{at}w3.nls.net...
> >> > Completely wrong.
> >>
> >> Nope.
> >>
> >> >They went bankrupt because the price of oil was so low
> >> > that they couldn't make a profit.
> >>
> >> That's exactly what I said with the addition that it was so low because
> >> of
> >> overseas production.
> >>
> >> >  I take it your relatives work as
> >> > roustabots on a drilling rig.
> >>
> >> No, oil rig pump business, but when times got tough, they also did
that.
> >>
> >> --
> >> Bob Comer
> >>
> >>
> >> "Gary Britt" 
wrote in message
> >> news:439daf82$1{at}w3.nls.net...
> >> >
> >> > "Robert Comer"
 wrote in message
> >> > news:439da892{at}w3.nls.net...
> >> >> So you think.
> >> >
> >> > So I know.
> >> >
> >> >> Sorry guy, I had relatives in the oil industry too,
and what you're
> >> > talking
> >> >> about is domestic production, and yes, they went
bankrupt because
they
> >> >> couldn't compete with overseas production, now isn't
it odd that the
> > big
> >> > oil
> >> >> producer US companies still make profits, no it's
not, because they
> >> >> are
> >> >> producing overseas, not here. (for the most part)
> >> >
> >> > Completely wrong.  They went bankrupt because the price
of oil was so
> > low
> >> > that they couldn't make a profit.  I take it your
relatives work as
> >> > roustabots on a drilling rig.
> >> >
> >> > The chart was wrong as are your beliefs.
> >> >
> >> > Gary
> >> >
> >> >
> >>
> >>
> >
> >
>
>

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