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#448127 - 11/01/05 09:53 PM Re: Way to go Exxon!!
Sound Tactic Offline
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Above are all components of what the US Census calls 1 industry.
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#448128 - 11/01/05 09:54 PM Re: Way to go Exxon!!
Hated By Some Offline
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Somewhere vanilla
EC97N-2123I Potash, Soda, and Borate Mineral Mining - 10/21/99
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I find this classification highly suspect!

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#448129 - 11/01/05 09:55 PM Re: Way to go Exxon!!
HRH Dawnie Offline
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Wow the world socialist website! Ok what was I thinking. And here I was getting my data from a production website. I'm sure that the industry is probably lying to itself on a regular basis, but for the sake of argument, Saudi Arabian Oil was producing 3028 million barrels per year. Exxon/Mobile was at 894. Even BP Amoco/Arco eclipsed Exxon/Mobile at 963 million barrels during the same time your little socialists were trying to do some simple math. In assets Exxon/Mobile was number one...in the US, not in the world. There isn't really a way for a company like that (non-state owned) to compete with the assets of a company like Saudi Aramco. While they're big, they are simply not the largest oil company in the world and never have been by any measure.
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#448130 - 11/01/05 09:59 PM Re: Way to go Exxon!!
Sound Tactic Offline
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Actually I once did a report on Exxon in which I found the asset sizes of all of the oil industry. I will try and provide it for you. But Exxon was still the largest, and it was still not very close. But I will find it before we go any further.
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#448131 - 11/01/05 10:03 PM Re: Way to go Exxon!!
Sound Tactic Offline
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BTW non state owned cannot compete with state owned?

Now who is the socialist? Except for state owned almost always looses to non-state owned.
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#448132 - 11/01/05 10:09 PM Re: Way to go Exxon!!
HRH Dawnie Offline
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You listed only upstream industries in your report. Do you even know what downstream is? It's hard to argue when you don't even know enough about the industry to know that the two are very different.

Saudi Aramco is the largest company in the world. They are not publically traded. They have the largest proven crude oil reserves. They're just not publicly traded. If you're shopping for an oil company, consider that purchasing the name isn't worth doo doo You need the reserves to keep producing funds or you have nothing but the aforementioned "doo doo".
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#448133 - 11/01/05 10:12 PM Re: Way to go Exxon!!
Sound Tactic Offline
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Yes your reserves comment is true. Buying a name? In the oil industry? I do not really care about a name. But the report you referred to as mine(?) (which is not mine) gives deeper detain if you read the reports, they include both upstream and downstream.

Time to brush up on the ol' industry analysis knowledge before trying to rub my face in it.
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#448134 - 11/01/05 10:13 PM Re: Way to go Exxon!!
HRH Dawnie Offline
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By the way, here are your totals:

1
Saudi Aramco
Saudi Arabia
261,798 million bbls reserves
8.301 mbd production
2.084 refining capacity
54,077 employees

2
ExxonMobil
US
12,312 million bbls reserves
2.542 mbd production
6.261 refining capacity
97,900 employees

When I said they "can't compete" I meant it's easier for a state owned company to completely exclipse the size of a private or publically traded company. I didn't say they couldn't compete with each other, but in sheer size, the subsidized company nearly always has the advantage.
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#448135 - 11/01/05 10:14 PM Re: Way to go Exxon!!
Sound Tactic Offline
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I am done with this. It is obvious to me that no matter what facts I can bring to the table you are going to be right.

But next time you read an oil industry report, look who's name is on it.
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#448136 - 11/01/05 10:25 PM Re: Way to go Exxon!!
HRH Dawnie Offline
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LOL Ok, I read them daily. I've yet to see "Shemp" listed as an author, but perhaps you're writing for the socialist paper and not the Oil and Gas Reporter?

I'd love to discuss facts with you, but you haven't been able to produce any. Notice how you're "leaving the conversation" before proving that Exxon/Mobile is the largest company in the world? Note that I did bring facts to the table (above posting on company size or Saudi Aramco verses Exxon/Mobile). I also listed the top companies in oil production in the same year you claim Exxon was number one. I covered state owned and non-state owned company size. You on the otherhand, shared with us that you've taken economics 101.

Like I say...I'll grab the Oil and Gas Reporter and look for your name...I don't expect to find it. They tend to look to more factual, current data, but what the heck, I'll give it a shot.
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#448137 - 11/01/05 10:30 PM Re: Way to go Exxon!!
Sound Tactic Offline
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You posted nothing but production amounts. Next time production represents size let me know.

I was not saying I wrote the reports, but my professor has.

But it does not matter if you think interest rates affect the price of oil. Because the economists that write your reading material do.
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#448138 - 11/01/05 10:32 PM Re: Way to go Exxon!!
Sound Tactic Offline
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Actually it was I who produced an article claiming that no one was bigger than Exxon. Now you prove it wrong. Its based upon asset size not production.

Look at any company. Next time you make a loan, you should avoid pricing it based off of production, its unsafe.
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#448139 - 11/01/05 10:35 PM Re: Way to go Exxon!!
Sound Tactic Offline
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Look Dawnie its ok. I respect you professionally and you have helped me many times with HMDA or CRA questions. But it is becoming very clear to me that you just don't understand what I am saying. Maybe it is my wording or maybe it is your "understaning" (see that was worded very nicely) of the subject matter. I do not come onto BOL to sit and argue with people. I come to help, get helped and provide comic relief to the cooler.

So please, let this drop. I seriously do not want to argue with you.
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#448140 - 11/01/05 10:36 PM Re: Way to go Exxon!!
HRH Dawnie Offline
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Honey bow out when you say you're going to. I posted reserves (that's the oil they are sitting on with a right to suck it out of the ground just in case the term confused you), as well as production (that's the amount they're sucking out of the ground...it gets sold by the barrel and equates to continued cash flow) and refining capacity (that's the ability to make the stuff that goes in your car out of the reserves and production numbers).

I didn't say that interest rates have zero effect on the price of oil. They have more on the price of gasoline frankly, but not much in the overall pricing factors. As a percentage of costs, they are a minor factor in the price per gallon you pay at the pump. There are other factors that are much more significant than interest rates.
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#448141 - 11/01/05 10:41 PM Re: Way to go Exxon!!
CubDave Offline
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Wow - this argument makes me want to become Amish and just ride a horse and buggy for the rest of my life - oil is a scary subject.

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#448142 - 11/01/05 10:44 PM Re: Way to go Exxon!!
Jokerman Offline
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Quote:

Next time you make a loan, you should avoid pricing it based off of production, its unsafe.




Asset-based lending, Shemp?

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#448143 - 11/01/05 10:57 PM Re: Way to go Exxon!!
HRH Dawnie Offline
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Just a last note...part of the assets of an oil company would be their reserves. You need to have some oil in the ground (proven reserves) to continue to have oil to sell. Reserves are a legitimate asset that can be traded, sold, loaned against, etc. They are the most important part of an asset base for an oil company.

Lending on equipment that can only be used to extract oil from the ground is risky. Lending on crude that sits below the earth all happy and warm, just waiting to be sucked out of the ground is a pretty standard practice. If the company currently owning that asset goes belly up, the next company can always extract it for us. We can easily sell that asset for debt liquidation. Oil that's already been extracted and sold to another company isn't as easy to turn into debt repayment.

Banking oil and gas production amounts or reserves is risky. Both have specific risks associated with them. But make no mistake, both are assets, one current and one future, but both proven assets for an oil company.
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#448144 - 11/01/05 10:59 PM Re: Way to go Exxon!!
HRH Dawnie Offline
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Davie...if you become Amish will you make me a rocker for the nursery? I'll always know it was from you...since it will smell of horse poop from your buggy
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#448145 - 11/02/05 06:21 AM Re: Way to go Exxon!!
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Can someone please tell me what the F-ing point was in arguing about whether or not Exxon is the biggest oil company in the world.
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#448146 - 11/02/05 02:04 PM Re: Way to go Exxon!!
HappyGilmore Offline
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Pulling people out of the ditc...
Quote:

And I never claimed that you slept with Hazelwood, i believe that was happygilmore.

--------------------





Ron - if we're going to quote, please get it right. I said it was rumored that she was on the bridge with Hazelwood, a joking reference to the Exxon Valdez than ran aground...no reference to sleeping at all.
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#448147 - 11/02/05 02:12 PM Re: Way to go Exxon!!
Hated By Some Offline
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Quote:

Quote:

And I never claimed that you slept with Hazelwood, i believe that was happygilmore.

--------------------





Ron - if we're going to quote, please get it right. I said it was rumored that she was on the bridge with Hazelwood, a joking reference to the Exxon Valdez than ran aground...no reference to sleeping at all.



Woah, I was brought into this discussion and I was trying to recall who made the reference (you did) to Dawnie and Hazelwood regardless of the connection.

That Guy: The Exxon reference to largest company was simply an example of how many bites it takes to swallow pride.

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#448148 - 11/02/05 04:21 PM Re: Way to go Exxon!!
HappyGilmore Offline
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Pulling people out of the ditc...
Quote:

Woah, I was brought into this discussion and I was trying to recall who made the reference (you did) to Dawnie and Hazelwood regardless of the connection.





Then let's make sure the context and content are correct if you are going to reference.
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#448149 - 11/02/05 07:39 PM Re: Way to go Exxon!!
HRH Dawnie Offline
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Oh hush happy I screwed up and attributed that comment to Ron But if it gets the two of you in boxing gloves...well heck more power to me

I wasn't on the bridge with Hazelwood, but perhaps I did spike his coffee at the hotel (for anyone attempting to sue Exxon over the spill KIDDING!!!)
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