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To: reaganaut1
Even as Washington goes into a frenzy over energy, many of the oil companies are staying on the sidelines, balking at investing in new technologies favored by the president,

Oh really. Well then, a bailout is in order, apparently. Then, like with the mafia, you'll do whatever we say--or else.

30 posted on 04/07/2009 2:12:02 PM PDT by subterfuge (BUILD MORE NUCLEAR POWER PLANTS NOW!!!)
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To: subterfuge
I didn't see in the story any mention of the fact that the Seven Sisters have been sitting on all the profits from last year's price per barrel spike.

They don't need the Fed Nationalizers to move in and "save" them. Big Oil has been perfectly happy passing along locally mandated 'boutique' gasoline prices to the consumers, and keeping the profits to plow back into leases, and rigs, and non-union people.

You might also notice how many of the Big Oil Companies can move headquarters overseas in a heartbeat. They are perfectly willing, and can afford, to sit out The President of Crazyville's self induced financial disaster. Amazing how spending 100 years bribing Third World dictators prepares Big Oil for dealing with this White House...

Oil exploration and production has always been a cash on the barrelhead business. Oil men don't like playing financial games. Our Chicago Shyster-in-Chief may find it hard to grift and blackmail people who aren't stupid and greedy.

32 posted on 04/07/2009 2:46:13 PM PDT by jonascord (Hey, we have the Constitution. What's to worry about?)
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