On Aug 24, 12:00 am, SgtUSMC <[email protected]> wrote: > You left out the oil companies. Maybe you were making a different > point but the oil companies were big winners.
Sarge, you'll have to read it again...they're in there. --- Palast wrote, “It has been a very good war for Big Oil – courtesy of OPEC price hikes. The five oil giants saw profits rise from $34 billion in 2002 to $81 billion in 2004…But this tsunami of black ink was nothing compared to the wave of $120 billion in profits to come in 2006: $15.6 billion for Conoco, $17.1 billion for Chevron and the Mother of All Earnings, Exxon’s $39.5 billion in 2006 on sales of $378 billion.” Palast noted that oil firms have their own reserves whose value is tied to OPEC’s price targets, and “The rise in the price of oil after the first three years of the war boosted the value of the reserves of ExxonMobil oil alone by just over $666 billion. “Chevron Oil, where Condoleezza Rice had served as a director, gained a quarter trillion dollars in value…I calculate that the top five oil operators saw their reserves rise in value by over $2.363 trillion.” Who’s surprised when Forbes reports of the ten most profitable corporations in the world five are now oil and gas companies – Exxon-Mobil, Royal Dutch Shell, BP, Chevron, and Petro-China. --~--~---------~--~----~------------~-------~--~----~ Thanks for being part of "PoliticalForum" at Google Groups. For options & help see http://groups.google.com/group/PoliticalForum * Visit our other community at http://www.PoliticalForum.com/ * It's active and moderated. Register and vote in our polls. * Read the latest breaking news, and more. -~----------~----~----~----~------~----~------~--~---
