PRESIDENT GEORGE W. BUSH Message Board

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Politics : PRESIDENT GEORGE W. BUSH

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To: ColtonGang who wrote (149775)	5/30/2001 10:14:50 PM
From: Peter O'Brien	Read Replies (1) of 769670

Here is the past five years of earnings history for Texaco: www2.barchart.com Their earnings per share fell from $4.87 in 1997 to $1.04 in 1998 when world oil prices plunged. That's a decline of nearly 80%. Their profits are only now getting back to the 1997 levels. The story is similar for most oil companies. Where were you in 1998? Would you have supported a government-mandated price floor for energy in 1998? When your profits are nearly wiped out, of course there will a large percentage increase when they return to a more normal level. That is because the demominator is small. By the way, I realize this is quite a difficult concept for a public school graduate to grasp...

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