Re: Shocking New Video: Why McCain Wants to Drill Up Our Tourist

Wolf Leverich wrote:
> On 2008-08-03, Ben Wade <three@[EMAIL PROTECTED]
> wrote:
>> Wolf Leverich wrote:
>>> On 2008-08-03, Ben Wade <three@[EMAIL PROTECTED]
> wrote:
>>>> Wolf Leverich wrote:
>>>>
>>>>> BTW, if you want to blame someone for the short-term run-up
>>>>> in oil prices, blame Republicans.  
>>>> You stupid bastard, that's the dumbest thing you said all day.
>>>>
>>>> Bugger off, liar.
>>>
>>> Um, which part was inaccurate?
>> All of it.
>>
>>>                     ###
>>>
>>> The industry is having a feeding frenzy?
>> On what?
> 
> Consumer dollars.

Do tell...so DEMAND drives profits...who knew....

>
>>> All the majors are re****ting record profits.
>> Yet the profit margins remain the same - 8%.
> 
> First, if it were true, it would be irrelevant.  

Oh my, would it now?

You poor stupid bastard, you walked right into that:

http://biz.yahoo.com/ic/120.html

Industry Center - Major Integrated Oil & Gas
Market Capitalization: 1,629B
Price / Earnings: 9.6
Price / Book: 2.8
Net Profit Margin (mrq): 8.8%

http://biz.yahoo.com/ic/821.html

Industry Center - Application Software
Market Capitalization: 488B
Price / Earnings: 19.6
Price / Book: 17.9
Net Profit Margin (mrq): 23.2%


> Record
> profits -- profits that are approaching $1,000 a year for
> every man, woman, and child in America -- are, ahem,
> record profits.

And record demand in China and India are record DEMAND!

http://news.xinhuanet.com/english/2008-04/29/content_8075648.htm

BEIJING, April 29 (Xinhua) -- Soaring oil prices have not slowed China's 
consumption of oil as statistics show that China's apparent consumption 
of crude oil and refined oil products both hit record highs in the first 
quarter of the year.

     According to statistics released Tuesday by the China Petroleum and 
Chemical Industry Association (CPCIA), China's apparent consumption of 
oil products composed of gasoline, diesel and kerosene rose by 16.5 
percent year on year to 52.73 million tonnes in the first three months, 
and crude oil, rose by eight percent to91.8 million tonnes.



Remember that's a nation of 1.3 BILLION people with at present only 33 
MILLION cars.

DO THE MATH!

> Second of all, the margin thing is wrong.  Identify the
> source, and I'll explain to you what's going on.

Oh do - have at, you netwit!

>  
>>>                     ###
>>>
>>> Republicans have been blocking CAFE standards and such?
>> The Bush energy plan provided hybrid car subsidies, try again.
> 
> Wow, cool.  An actual, honest-to-gosh fact.  I'm impressed.

And swiftly upbriaded.
>
> And note that Republicans are blocking increased CAFE
> standards and virtually all other conservation measures.

Here's a hint - the MARKET can handle it.

When people DEMAND high mileage, that's precisely what they will get!

http://gm-volt.com/

>                        ###
> 
>> {off topic partisan spin indictments deleted}
> 
> Which part of record deficits devaluing our currency and
> driving up oil prices is partisan spin?

Which part of regular economic cycles do you not grasp, or do just 
dislike us having stronger ex****ts?

> The record deficits are just a fact, like the sky is blue.

Big whoop.

> Pretty much all economists will tell you that persistant
> large deficits will debase the currency.  Printing money
> isn't a good thing.

Care to cite how much we're printing?

> The falling dollar inherently increases foreign oil costs.
> That's how currency swings work.  It's physics.

And at the same time a weak dollar increases our ex****ts.

> It's a matter of record that Republicans have recently
> blocked anti-speculation legislation.

It's  matter of record that much of the "speculation" is being driven by 
large pension funds like CALPERS.

> So there's nothing partisan about the above -- it's just
> facts -- and, since we're talking about oil prices, it's
> about as on-topic as you can get.

The Dems seem to think that driving the trade of oil AWAY from our 
transparent markets into the relatively more Opaque London and other 
foreign exchanges will be a good thing.

Cluebat - IT WON'T!

> I miss the old days, when the reality-impaired folks were
> all Democrats.

They still are, you just deluded yourself into believing that throttling 
the free market out of existence will be a good thing.

You poor ****ing fool.