well look at this... record profits-record production

[madrchsod]

http://www.marketwatch.com/News/Story/Story.aspx?dist=newsfinder&siteid=google&guid=%7BBB1EB2A3-AFDE-444B-82F1-9414C8295712%7D&keyword=
Occidental profit rises on record production - MarketWatch

record production?

[kurth]

1. Thanks to the GOP:

Since 1990, oil and gas interests have contributed $140.9 million to GOP federal candidates and $46.7 million to Democrats, according to the Center for Responsive Politics in Washington. In the 2006 electoral cycle, those industries have given 84 percent to Republicans and 16 percent to Democrats, according to the Washington-based public-interest group.

[brentspeak]

2. Good catch. So the "supply & demand" excuse oil comps give is B.S

There's plenty of supply, so they can't justify their gouging. A lot of that oil is probably sold overseas, too.

[JuniperLea]

3. record production?

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That doesn't quite fit what we've been hearing, does it? One of the "excuses" for our current gas prices is that we need more refineries. Yet, my b/f tells me he read somewhere (probably via DU) that our refineries are producing far lower than at capacity.


Gee, I love being lied to over and over again. :sarcasm:


Edited to say, I betcha Halliburton builds a mean refinery! ;)