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Exxon Mobil Corporation Message Board

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  • greedful_thing_s greedful_thing_s Nov 20, 2012 4:48 PM Flag

    Walhieeeee boy! Obama in bed with Big Oil?


    Middle East wars stir up nationalism which is deadly to a multinational business. "Big Oil" at one time owned all the oil reserves in Saudi Arabia, Iraq, Iran, Kuwait, Libya, Algeria, Mexico, Venezuela...

    Just how do you suppose it came to lose all of those, do you? - why the countries in question just forced the sale of the properties at some absurdly low figure, like book value or "updated book value," at a price which bore no resemblance to the value of the oil reserve at all, or declared the oil companies in question in violation of some law they would make before or after the fact and seized their properties in the courts, or imposed an oil export tax that confiscated all the profit, or all of the above.

    The situation is even more dangerous for "Big Oil" now because the state oil companies have acquired the ability to run their operations without Western help.

    Perhaps in the mind of a speculator it looks as if Obama is helping "Big Oil," that is if you take as true the premise that he is escalating the wars... The gain promise to be brief... When it really comes down to it Obama could care less what other countries do to Big Oil - the case of Chevron in Ecuador is case in point... I will not lift a finger to stop Russia from doing whatever they wish, you can rest assured of that.

    Sentiment: Strong Sell

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