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Like JUSTMAN said you guys are having a very interesting discussion. No time to join in. But i wanted to post this article. Read it and think about the following Few points..
[1. US imports MOST of its oil. 2. The Cost of US Workerrs and Transportation is ONE of the highest in the World. MUCH HIGHER than SL. 3. The Price of Oil in US gas stations is MUCH lower than SL. 4. Despite all this US oil companies are making UNPRECEDENTED Profits, however, CPC is making Massive Losses. 5. During the past three months or so, the Price of a barrel of oil has reduced to about $54 from a high of almost $80. WHY IS THIS?????????????????????????????????? ] http://money.cnn.com/2007/02/01/news/companies/exxon/index.htm?postversion=2007020112 Exxon posts biggest annual profit ever Record oil prices help the world`s largest public oil company earn $39.5 billion in 2006. By Steve Hargreaves, CNNMoney.com staff writer February 1 2007: 12:37 PM EST NEW YORK (CNNMoney.com) -- Exxon Mobil Corp. Thursday reported the biggest annual profit on record for a U.S. corporation - earning more than $75,000 every minute of 2006 on the back of record oil prices. .... But gas prices have eased back near $2 a gallon - and the fiery rhetoric in Washington has receded. High oil prices have driven up demand for drilling rigs and experienced workers, which has boosted the cost of finding new oil. And much of the world`s remaining reserves lie in politically unstable areas or countries that are simply off-limits to foreign firms. Oil companies have also returned much of their record earnings to shareholders. http://money.cnn.com/2007/02/01/news/companies/exxon/index.htm?postversion=2007020112 |
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