Venezuela's Chavez Signs Cheap Oil Deal with Massachusetts

[Colonâ„¢]

Yup, they strive to maintain oil prices in the range of $22 to $28/barrel.

[Ted Striker]

Mad Viking pwnz

[Sava]

tru dat

[Sikander]

Originally posted by Ramo

Not really. OPEC primarily tries to achieve stable oil prices, not high oil prices.

That's in large part because they don't control enough of the market to do the first and the bulk of their production (ie the power players) are Arab states with large investments in the west. This is the only position possible for the cartel as a whole. But Chavez is constantly lobbying to raise the price of oil at OPEC meetings.

[Sikander]

Originally posted by The Mad Viking

So you say.

The quote function should be sufficient, no need to include this.

Originally posted by The Mad Viking
Would it not be more correct to say that critics of capitalism claim that it is motivated almost exclusively by greed, and the benefits accrue to a small number of individuals working in their self-interest with little concern for the well-being of the population in general.

Yes it would not be more correct. And those critics fail to take into account that when the market works (as it is with oil) that the lower prices due to competition are a boon to everyone who consumes oil directly or indirectly, ie everyone who engages in significant economic activity.

Originally posted by The Mad Viking
So giving back some of the recent windfall profits, (derived from price spikes that certainly appear related to the US occupation of Iraq) would make sense for Chavez, but not for the capitalist US companies who lied to Congress last week.

Iraqi production seems a much less important factor than the huge growth in demand, but of course in a global market everything has an impact no matter how large or small.

As for the "windfall" profits, they belong to the millions of people and entities who invested in oil companies. Penalizing them for what seems to be normal market behavior is only going to make oil stocks less valuable as capital flees to areas which are more predictably taxed. The result will be that state owned oil producers will have an advantage over privately owned producers, which will increase the percentage of the market controlled by OPEC and decrease the supply of oil in comparison to what would have otherwise been produced. This in turn will put upward pressure on prices, which will hurt the vast majority of the world's population, particularly those who depend on low transportation costs in order to not starve to death.

[The Mad Viking]

I never said anything about penalizing them.

But I can tell you something. In the long run, corporations that refuse to regulate their own behaviour will find their behaviour regulated for them. Which is not in their best interest.

Because the rights of the electorate trump the rights of the shareholders.

And is not some corporation running to the government every day, palms up, when some adverse freak occurence harms them?

Corporations duty goes beyond the shareholder. Without the nation they operate in, without the rule of law, without a populace of consumers and workers, they cannot exist.

[Saras]

Originally posted by The Mad Viking


Corporations duty goes beyond the shareholder. Without the nation they operate in, without the rule of law, without a populace of consumers and workers, they cannot exist.

Isn't that why they pay (at least in theory) taxes?

[Az]

Saras: I am not sure that this is the case: after all, if a corporation isn't profitbale, it doesn't pay taxes, right?

[DinoDoc]

re windfall profits: Since when is a 10% profit margin for a company that pays out over 100 billion in taxes a windfall?

[Az]

oh, again, the 100 billion in taxes bs. Honey, how I missed you

[DinoDoc]

You can say that but it doesn't make it true Az.

[Grandpa Troll]

We also Import Cement from Pertigalate

Here is a LINK to where our company gets a large amount of cement from


I hear about the issues with Venazeula and US and wonder if its all that bad that a few million dollars wont help ease some hard feelings

[Agathon]

Hey, American citizens getting poor relief from a third world country.

That's funny.

And who gives a toss about small businessmen... damn kulaks...


Jesus... even Fidel is offering to help you guys out sometimes.

[Ted Striker]

Fidel's hurrican team pwnz

Makes ours look like a joke

Oh, by the way, speaking of hurricanes, apparently there is a large group of Indians living in the Bajou and have been completley forgotten by FEMA, but hey, we been screwing the red man for hundreds of years why stop now.

[Kuciwalker]

Originally posted by Agathon
Hey, American citizens getting poor relief from a third world country.

That's funny.

How can you be such a frigging obvious tool?