Darboshanski opened this issue on May 28, 2008 · 52 posts
donquixote posted Thu, 29 May 2008 at 10:36 PM
Quote - but compared, in real money, to profits from the 80s, it's down
I thought you said "in the last few years." Most of us, I presume, thought "few" meant, you know, 2, 3 or 4? In that light, the "last few years" are not very much addressed in any of the quotes you offered, and again, all these quotes address profit, but not rates of reinvestment, etc.
And, well, if you're bottom line is to compare today's profits to profits from the 80's ... that's a whole nuther story.
Now we've got to do an extensive 10 year study to look at all the economic and legislative changes since the 80's to determine who is right, 'cause that was eons ago in terms of the business environment in which they were operating then.
But, look, you might be right. And it is not my intention to bash the oil industry for making a profit. So long as they aren't intentionally dragging their corporate feet or propagandizing the public to protect vested interests, and are not starting unnecessary wars for profit and making all us poor taxpayers foot the bills, power to them.
All I know for sure: when the price of gas is up, the oil companies start spending more money -- they even spend more on trying to influence media coverage of the oil industry.
Aside from the question of whether all that extra spending potentially affects profits, where should we suppose that money comes from?