Monday, May 01, 2006

Oil companies not necessarily the profiteers they are made out to be

Ces't Moi has a good run down on the state of the blame game from a US perspective: http://lesbiencestmoi.blogspot.com/2006/04/on-oil-we-should-shoot-messenger.html
but most importantly raises the following point:
"profits for the oil companies are sure up in the 2006 first quarter but before you draw your sword, would you be surprised to find out that Yahoo first quarter earnings are more than double the oil company's earnings?"
From a New Zealand perspective would you be surprised to know that BP only makes double the NZRU's earnings?
That really does not show Oligopolistic profiteering to me from the oil companies over a fungible commodity.
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[Update]  I even forgot to mention that Ces't Moi is a typically left wing environmentalist blog - so in defending the oil companies is showing more sense than normal ;-)


3 comments:

burt said...

The simple message that the taxes on Petrol represent the major share of the profits from oil consumption in this country is just not being heard. Govt are the profiteers they pretend not to be.

LETS TALK said...

I can concur with a little of what you say here, but I'll refer you to http://quote.bloomberg.com/apps/news?pid=10000039&refer=columnist_crystal&sid=ahWvkX7FsZxY#, maybe you can see where I'm coming from with my post.

LETS TALK said...

Forgot to tell you, great post and I will link to your site if it's OK