[lbo-talk] Chomsky: Israel Lobby ?

Seth Ackerman sethackerman1 at verizon.net
Thu Mar 30 15:59:33 PST 2006


Doug Henwood wrote:


> Don't forget the argument of Nitzan & Bichler in The Global Political
> Economy of Israel: oil companies *like* tensions in the Middle East,
> because they raise prices and therefore profits.

I never understood the link between oil prices and oil corp profits. (I've seen N & B's charts.) Aren't the companies mostly involved in marketing and refining now? Why should their profits go up along with crude prices?

Seth



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