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."
"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."
posted by Michael Plank at 10/29/2005 03:16:00 AM
1 Comments:
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