Saturday, October 29, 2005

Big Oil Record Profits?

Yet production is falling. As Jerome a Paris pointed out yesterday:

"So Big Oil's huge profits are really the swan song of the industry: they are taking advantage of their own inability to produce more, and of the NOCs's inability or unwillingness to produce more, which creates stagnant production at a time of strong demand growth. These are windfall profits coming from the depletion of the good they provide, not a sign of health and not a sign of price gouging."


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11/21/2009 1:29 AM  

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