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Strategies & Market Trends : Value Investing
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To: Jurgis Bekepuris who wrote (44844)10/6/2011 11:54:14 AM
From: Spekulatius  Read Replies (1) of 78673
 
I think TOT and E got the double whammy from lower crude and the European debt crises, even though they should not be affected by European debt issues much more than US counterparts. they have world wide operations, sell their fungible goods in US$ just like any other oil companies.

They don't have as much high cost but low royalty production in the US either (compared to CVX or even BP) that ads juice when prices are high, they royalties are son a sliding scale as it seem since their profits were actually more stable during 2008/2009 slump than CVX.
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