On 5/12/07, Michael Perelman <[EMAIL PROTECTED]> wrote:
The article the set off this discussion did not mention the disinclination of the private petroleum companies to contribute to productivity. Instead of exploration, they use their cash hordes to buy each other's companies. They do little for modernization.
If that's the case, why do state companies, even the one in Venezuela today, seek oil multinationals as partners, contract them for exploration and development, and so forth? I thought that was because state companies didn't necessarily have capital and/or technology. -- Yoshie
