Je Ne' Sais ,PaPa.

J'ai tort le plus souvent. Mais peut-être pas parfois.

Another exhibit entered into evidence of suppression and distortion by the Bush Administration.

Si

http://www.independent.co.u...

yeah, now there's a truly independent sourcing

BWAHAAAAAAAAAAAAAAAAAAAAAAA!!

Let me quess:you lived/worked/talked at a bar with  the independant and know it's unhappy with it's life and biased?? bwahaaa,indeed.

To quote Stephen Colbert: "Reality has a liberal bias."

http://news.yahoo.com/s/ap/... more Liberal bias news,was it not Tk saying recession?

And, wait, there's more: Exxon posts record profit.

"Oil is also not a normal commodity. A big part of today's high prices—and why they are still nearly double the level of a year ago, despite dark economic news—is that oil beats to backward economics. When the price of soybeans or steel rises reliably, farmers and steel millers boost output, and prices abate. When the price of oil rises, many suppliers do the opposite. This bizarre response comes not from the Organization of Petroleum Exporting Countries (OPEC), which is always in the news, but from the pernicious ways that oil wealth ripples through the societies that have most of the oil."

This full story is from Newsweek.

Nationalization. 

Why do we pretend it is bad. Why do we pretend that it does not exist in America. When it has been in Kern County and Bakersfield for  a century. 

Would the thought ever come to mind that our Sewer districts should be made a private entity? 

San Diego, Los Angeles and Sacramento all have municipal Water and Power districts. No matter your consternations. These are in effect nationalized entities that serve the public because no other can do the job better. 

These three thrive in the midst of what are some of the largest for profit districts in America. And they provide more reliable and cheaper services. 

If you Google municipal sewer, water or power districts. The lists go on. And On And On.... 

Yet to Nationalize a foreign national Petro Corp during wartime seems to leave a sour taste in many peoples mouth. 

I can not for any reason see why. 

Is it that because of History. The Ringing of the words 'American Made', still sound true to many. Especially in Kern and other oil producing areas. 

Sure the oil is in our soil. But is pumped out of our dirt. Then abused by the Multi National petro CZAR. Refined and exported from our nation at the expense of our National security during a time of war. 

When will we set greed aside and proclaim Security as the title on the post card card that outlines our thoughts..

If I gross $100 mil per year and my PM is 7.5% (oil ind ave) then my NI = $7.5 mil

If prices double my gross is now $200 mil and if my PM is still 7.5% (which theirs is) my NI is now $15 mil

You would complain that I have had a 100% increase in profits. Right?

But if my PM is the same, am I really "gouging"?

Now if I am manipulating my "in-co. transfer pricing" (e.g. between R&M and E&P arms of the co.) then I could see saying I was gouging (and this is watched closely by Govt trust me).

 But if price drops by half (ceteris paribus) then will you feel for me as my NI goes down by half ?

Nationalization. 

Why do we pretend it is bad. Why do we pretend that it does not exist in America. When it has been in Kern County and Bakersfield for  a century. 

Would the thought ever come to mind that our Sewer districts should be made a private entity? 

San Diego, Los Angeles and Sacramento all have municipal Water and Power districts. No matter your consternations. These are in effect nationalized entities that serve the public because no other can do the job better. 

Chico, you think the oil industry of the U.S. is watched closely by the Bush Administration?

I don't.

Noonie, the oil industry is well represented here in Kern county.  Maybe you could provide some examples of what it is getting away with here because the Bush Administration is not watching it closely.

Drill,

Bush isn't watching Crap-o-la.

Fienstien and Boxer put the hurt to Shell though..

I'd be interested to hear what Feinstein and Boxer did to hurt (as you call it) Shell when it is reporting record profits. http://www.nytimes.com/2008...

I'll bet more companies would like some of that hurt.

 Old Boxer and Feinstein made Shell sell the Bakersfield refinery, rather than close it down.  Then Flying J got suckered into buying it and now have $400 million dollars worth of processing equipment sitting in the dirt collecting rust waiting for the GOVERNMENT to finish shuffling papers so they can build new processing units.

Kozy, if you knew anything about nationalized oil companies, you wouldn't be popping off about nationalizing the US oil industry.  Ask anyone in the know about how Pemex and Petroequador operate. They are two of the worst operators in the history of oil production.  Take a look at how the government ran Elk Hills.  What a joke. Oxy came in and got more oil out for less money.

 FACTBOX: Weak U.S. dollar's impact on other assets

* The dollar is losing some of its luster as a reserve currency. Some central banks are diversifying their foreign- exchange reserves in favor of the euro. OPEC's second-largest producer Iran has asked for payments in euros and yen, rather than dollars.

NEW YORK (Reuters) - The U.S. dollar plunged to a record low against the euro and dropped below 99 yen on persistent worries about global financial turmoil and U.S. recession concerns.

It has also fallen to an all-time low against a basket of currencies and touched parity with the Swiss franc for the first time ever.

Here are some implications of the dollar's decline:

* The dollar's sharp depreciation established an inverse correlation between the greenback and commodity prices. Investors are seeking to hedge against the dollar's steep fall by buying commodities such as gold and oil, pushing their prices to record highs.

* Given that oil is denominated in dollars, the sharp fall in the value of the greenback has made oil cheaper for non-U.S. consumers, fueling a surge in demand and in turn pushing the price of oil even higher.

http://www.reuters.com/arti...

  Ask anyone in the know about how Pemex and Petroequador operate. They are two of the worst operators in the history of oil production.  Take a look at how the government ran Elk Hills.  What a joke. Oxy came in and got more oil out for less money.

When I worked there, what you're calling Petroequador was called CEPE (Corporacion Estatal Petrolera Equatoriana). They were worse than a joke. If we hadn't exploited "La Oriente" and Blocks 12, etc. they would still be using blow darts on monkeys over our fields.

Years ago someone from Oxy told me how quickly Elk Hills paid out. It didn't take long.

When these countries nationalize your fields, they must utilize people like kozy as reservoir engineers!

 UPDATE 2-Venezuela wants euros for some fuel exports:

CARACAS, March 13 (Reuters) - Venezuela is requiring payment in euros for some fuel exports, an industry source told Reuters on Thursday, a sign the OPEC nation may be easing away from the plummeting dollar.

A trader on Thursday told Reuters he had purchased an oil products cargo under a contract issued recently.

"Everyone who has that contract has to pay in euros," said the source, who asked not to be identified.

http://www.reuters.com/arti...