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Politics : View from the Center and Left

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To: Cogito who wrote (72410)	6/15/2008 11:40:19 PM
From: Sam	Read Replies (1) of 542131

Allen, a lot of the oil companies' cash is going to stock buybacks: google.com I haven't bothered to compare how much is going to buying back stock versus how much they are investing in finding new sources or exploiting older ons, but Charlie Rose had some people discussing the price of oil on his show last week. One of them claimed that the American oil companies are in a long term process of liquidation. Here is the link if you want to watch it: charlierose.com I should add that another one of the panelists didn't appear to share that opinion.

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