[lbo-talk] Chomsky: Israel Lobby ?

[Jim Devine]

On 3/30/06, Seth Ackerman wrote:
> I never understood the link between oil prices and oil corp profits.
> (I've seen [Nitzan & Bichler's] charts.) Aren't the companies mostly involved in
> marketing and refining now? Why should their profits go up along with
> crude prices?

the marketing and refining part of the companies simply raises
gasoline prices in step with oil prices (though gas prices tend to
rise faster than they fall).

The oil companies still benefit from the ownership of some oil fields
or participation in some oil extraction.
--
Jim Devine / "There can be no real individual freedom in the presence
of economic insecurity." -- Chester Bowles