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Politics : Politics of Energy -- Ignore unavailable to you. Want to Upgrade?

To: RetiredNow who wrote (8775)	5/31/2009 12:06:46 AM
From: Brumar89	Read Replies (1) \| Respond to of 86356

And that was because of the rise of oil prices. Which was a result of market forces, just as the fall in prices recently. Your attribution of that to Bush "crony capitalism" is pure economic ignorance. You've acknowledged that oil prices are destined to rise in coming years - will you attribute that to Obama's "crony capitalism"?

To: RetiredNow who wrote (8775)	5/31/2009 2:24:18 AM
From: Hawkmoon	1 Recommendation Read Replies (1) \| Respond to of 86356

Their graph on oil industry profits only makes sense if it includes REVENUE INCREASES representing increased demand on a global basis as well as increases in per barrel prices. Right now Chevron has a 27% profit margin: finapps.forbes.com Now compare that to INTC and MSFT. In sum.. what was the price of oil in 2001 compared to now? Increased per barrel prices result in higher revenue totals, and thereby profit totals. What you should REALLY factor in increase in profit MARGINS, not overall profit. Just shows you how statistics can be warped in order to suit a political agenda. Hawk

To: RetiredNow who wrote (8775)	5/31/2009 2:30:18 AM
From: Hawkmoon	1 Recommendation Read Replies (2) \| Respond to of 86356

Btw, the article you posted just blasted holes in your theory that the oil industry receives tremendous gov't subsidies: The energy tax package would have closed tax breaks for big oil that are worth slightly more than $1 billion annually. The big five oil companies made over $123 billion in net profits in 2007; the closed loopholes would be less than one percent of their 2007 profits. And presumably even far less than their total revenues. Hawk