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Politics : PRESIDENT GEORGE W. BUSH -- Ignore unavailable to you. Want to Upgrade?

To: DMaA who wrote (168036)	8/6/2001 2:38:07 PM
From: Neocon	Respond to of 769667

Unbelievable......People don't understand that oil is a risky business, and returns are highly volatile.......

To: DMaA who wrote (168036)	8/6/2001 4:20:48 PM
From: Feraldo	Respond to of 769667

The worst hypocrites are (surprise) the newspapers. They themselves set as a goal 20% operating profits. What oil company comes close to that even in a good year? With oil and gas, there is not really a profit margin goal as I understand it. The costs of drilling, piping and selling or pretty close to fixed with of course normal inflation. Once the oil companies can sell a barrel above their price per barrel they make a profit. I think the industry average throughout most of the nineties was about $18.50 a barrel. In a good year, 20% is easy for a driller, not quite so for the rest of the industry.