From: "Robert Comer" 

Man, you do not read what I say, very annoying, I'm out of this particular argument.

--
Bob Comer


"Gary Britt"  wrote in message
news:439dcd8e$1{at}w3.nls.net...
> That is EXACTLY what you said.  You said that supplies were high because
> of
> Middle East over production and that Big Oil was part of making the over
> supply happen.
>
> It is not possible to cut costs to make more profit when oil sells at less
> than  $10.00 per barrel as it did during most of the period in question.
> Oil isn't profitable for new drilling in and around the USA at under
> around
> $35.00 to $40.00 per barrel.
>
> Gary
>
> "Robert Comer" 
wrote in message
> news:439dccb3$1{at}w3.nls.net...
>> > 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.
>>
>> No, that's not what I said, they wanted, and did, cut costs to make more
>> profit.
>>
>> --
>> Bob Comer
>>
>>
>> "Gary Britt"  wrote in message
>> news:439dc8d6$1{at}w3.nls.net...
>> > 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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