Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Zeev's Turnips - No Politics -- Ignore unavailable to you. Want to Upgrade?

To: marginnayan who wrote (98721)	9/19/2002 11:30:27 PM
From: Tom Pulley	Respond to of 99280

re: Once the U.S oil companies have control of Iraq's oil resources, oil output can be fine tuned based on demand and supply which in turn would allow them to have some sort of control over crude oil price You might be right, but history says American oil companies have always produced at maximum rates when given the opportunity....thus holding down oil prices. Years and years ago the Texas Railroad Commission was formed by the state of Texas and put limits on production because they thought the oil companies were producing too fast (and thereby lowering price and therefore tax revenue). Then in the 1970's OPEC came along to restrict production and push up price. IMHO, at the end of the day our American system of capitalism and competition (and greed) results in increasingly higher production of nearly everything until the the price drops to a level that begins to drive the inefficient producers out of business. Now, although I won't participate in complaining about our oil companies.....if you want to criticize lawyers, investment bankers or priests.......I'll join right in!(vbg) Tom