On Tue, 15 May 2007 06:26:30 -0400, HK wrote:

No offense, but it's just another rationalization for "big oil"
producers and refiners to put the screws to us now and in the future.

No offense to you either but the author of the report has no axe to
grind other than getting the story right.

I own stock in most of the major oil companies and every single one
of them is having difficulty replacing their reserves. These numbers
are reported and analyzed in great detail, and it is to a company's
advantage to show an increasing level. Reserves, or oil still in the
ground, are a key measure of corporate valuation. No matter how high
current operating results are, if the reserves aren't there the
profits are considered unsustainable and that is quickly reflected in
the stock price.

Another key measure is the cost of discovering a new barrel of oil.
Those numbers are in a steep increase as the easily developed oil is
used up. No company that expects to stay in business will be selling
their oil for less than the cost of discovery and development.

Time to get a sail boat Harry. We'll all help out with showing you
"the ropes".

Wayne.B wrote:
On Tue, 15 May 2007 06:26:30 -0400, HK wrote:

No offense, but it's just another rationalization for "big oil"
producers and refiners to put the screws to us now and in the future.

No offense to you either but the author of the report has no axe to
grind other than getting the story right.

I own stock in most of the major oil companies and every single one
of them is having difficulty replacing their reserves. These numbers
are reported and analyzed in great detail, and it is to a company's
advantage to show an increasing level. Reserves, or oil still in the
ground, are a key measure of corporate valuation. No matter how high
current operating results are, if the reserves aren't there the
profits are considered unsustainable and that is quickly reflected in
the stock price.

Another key measure is the cost of discovering a new barrel of oil.
Those numbers are in a steep increase as the easily developed oil is
used up. No company that expects to stay in business will be selling
their oil for less than the cost of discovery and development.

Time to get a sail boat Harry. We'll all help out with showing you
"the ropes".


A. I don't believe the accounting reports of oil producing/refining
companies. There are too many ways for them to cook the books. I also
don't give a tinker's dam about oil company stock prices.


B. I learned to sail when I was eight or nine years old, and was
adequate in boat club one design racing until I was 19 years old. I
started out on a Sunfish, and raced BlueJays, Stars and Lightnings
almost every summer. In addition, my father owned an L16, which I sailed
on frequently. I also owned sailboats and chartered sailboats as an adult.

I don't mind sailing on the ocean on occasion, but the wind on the Bay
in the summer is sketchy. And sailing is too much around here.

Harry Krause wrote:

A. I don't believe the accounting reports of oil producing/refining
companies. There are too many ways for them to cook the books. I also
don't give a tinker's dam about oil company stock prices.

AS A LABOR UNION FLACK, YOU ARE DEFINITELY QUALIFIED TO RECOGNIZE COOKED
BOOKS.

B. I learned to sail when I was eight or nine years old, and was adequate
in boat club one design racing until I was 19 years old. I started out on
a Sunfish, and raced BlueJays, Stars and Lightnings almost every summer.
In addition, my father owned an L16, which I sailed on frequently. I also
owned sailboats and chartered sailboats as an adult.

AND OF COURSE, YOU ALSO OWN A WONDERFUL LOBSTER BOAT.

William Bruce wrote:
Harry Krause wrote:

A. I don't believe the accounting reports of oil producing/refining
companies. There are too many ways for them to cook the books. I also
don't give a tinker's dam about oil company stock prices.

AS A LABOR UNION FLACK, YOU ARE DEFINITELY QUALIFIED TO RECOGNIZE COOKED
BOOKS.

B. I learned to sail when I was eight or nine years old, and was adequate
in boat club one design racing until I was 19 years old. I started out on
a Sunfish, and raced BlueJays, Stars and Lightnings almost every summer.
In addition, my father owned an L16, which I sailed on frequently. I also
owned sailboats and chartered sailboats as an adult.

AND OF COURSE, YOU ALSO OWN A WONDERFUL LOBSTER BOAT.



Both valid points but better said in upper and lower case...

On Tue, 15 May 2007 08:32:59 -0400, HK wrote:

I don't believe the accounting reports of oil producing/refining
companies. There are too many ways for them to cook the books. I also
don't give a tinker's dam about oil company stock prices.

One of the issues with the "oil company conspiracy theories" is that
it diverts attention away from where it belongs and encourages the
notion that there is a quick cure. What is realy needed is a
meaningful energy policy that stimulates development of petro
alternatives while also helping to stem increased demand.

Government subsidies for sailboats!

Wayne.B wrote:
On Tue, 15 May 2007 08:32:59 -0400, HK wrote:

I don't believe the accounting reports of oil producing/refining
companies. There are too many ways for them to cook the books. I also
don't give a tinker's dam about oil company stock prices.

One of the issues with the "oil company conspiracy theories" is that
it diverts attention away from where it belongs and encourages the
notion that there is a quick cure. What is realy needed is a
meaningful energy policy that stimulates development of petro
alternatives while also helping to stem increased demand.

Government subsidies for sailboats!



What? Collusion among the oil/refining companies? What an absurdity!

My comment was not about a conspiracy, but about oil company accounting
practices.

On May 15, 2:53 pm, Wayne.B wrote:
On Tue, 15 May 2007 08:32:59 -0400, HK wrote:
I don't believe the accounting reports of oil producing/refining
companies. There are too many ways for them to cook the books. I also
don't give a tinker's dam about oil company stock prices.

One of the issues with the "oil company conspiracy theories" is that
it diverts attention away from where it belongs and encourages the
notion that there is a quick cure. What is realy needed is a
meaningful energy policy that stimulates development of petro
alternatives while also helping to stem increased demand.

Government subsidies for sailboats!

I am not as versed as you folks are but I have read reports that
suggest 'big oil" (forget which company) just got in with Dow Chem and
are putting 500 million into alternative energy research. I also
understand that some 20% of the viable hydrogen cell companies stock
are owned by big oil. Why wouldn't it be and why would we not trust
these guys are very interested in the next generation of oil, Not to
menition they already have huge infrastructures in place to get input
and resources from. I think for better or worse, they will lead the
way into alternatives, they do wish to stay in control of their energy
market. As far as the study, pretty intense reading, but I get the
point. Great article, I am going to show it to couple folks.

On Tue, 15 May 2007 14:03:55 -0700, justwaitafrekinminute wrote:


I am not as versed as you folks are but I have read reports that suggest
'big oil" (forget which company) just got in with Dow Chem and are
putting 500 million into alternative energy research. I also understand
that some 20% of the viable hydrogen cell companies stock are owned by
big oil. Why wouldn't it be and why would we not trust these guys are
very interested in the next generation of oil, Not to menition they
already have huge infrastructures in place to get input and resources
from. I think for better or worse, they will lead the way into
alternatives, they do wish to stay in control of their energy market. As
far as the study, pretty intense reading, but I get the point. Great
article, I am going to show it to couple folks.

Well, that would depend on "big oil's" motives. There are many articles
disputing the following article. I am only presenting it here to show
what *could* be "big oil's" motives.

http://www.lovearth.net/gmdeliberatelydestroyed.htm

wrote:
On May 15, 2:53 pm, Wayne.B wrote:
On Tue, 15 May 2007 08:32:59 -0400, HK wrote:
I don't believe the accounting reports of oil producing/refining
companies. There are too many ways for them to cook the books. I also
don't give a tinker's dam about oil company stock prices.
One of the issues with the "oil company conspiracy theories" is that
it diverts attention away from where it belongs and encourages the
notion that there is a quick cure. What is realy needed is a
meaningful energy policy that stimulates development of petro
alternatives while also helping to stem increased demand.

Government subsidies for sailboats!

I am not as versed as you folks are but I have read reports that
suggest 'big oil" (forget which company) just got in with Dow Chem and
are putting 500 million into alternative energy research. I also
understand that some 20% of the viable hydrogen cell companies stock
are owned by big oil. Why wouldn't it be and why would we not trust
these guys are very interested in the next generation of oil, Not to
menition they already have huge infrastructures in place to get input
and resources from. I think for better or worse, they will lead the
way into alternatives, they do wish to stay in control of their energy
market. As far as the study, pretty intense reading, but I get the
point. Great article, I am going to show it to couple folks.

Think Standard Oil. Think J P Morgan. Think US Steel. Think early Ford
I doubt the modern text books have anything condemning their conduct.
Global Big Business has no better mores.

HK wrote:
Wayne.B wrote:
On Tue, 15 May 2007 06:26:30 -0400, HK wrote:

No offense, but it's just another rationalization for "big oil"
producers and refiners to put the screws to us now and in the future.

No offense to you either but the author of the report has no axe to
grind other than getting the story right.

I own stock in most of the major oil companies and every single one
of them is having difficulty replacing their reserves. These numbers
are reported and analyzed in great detail, and it is to a company's
advantage to show an increasing level. Reserves, or oil still in the
ground, are a key measure of corporate valuation. No matter how high
current operating results are, if the reserves aren't there the
profits are considered unsustainable and that is quickly reflected in
the stock price.

Another key measure is the cost of discovering a new barrel of oil.
Those numbers are in a steep increase as the easily developed oil is
used up. No company that expects to stay in business will be selling
their oil for less than the cost of discovery and development.

Time to get a sail boat Harry. We'll all help out with showing you
"the ropes".


A. I don't believe the accounting reports of oil producing/refining
companies. There are too many ways for them to cook the books. I also
don't give a tinker's dam about oil company stock prices.

He is speaking from experience. Ullico, anyone? Google it if you're
unfamiliar with Harry's employer.


B. I learned to sail when I was eight or nine years old, and was
adequate in boat club one design racing until I was 19 years old. I
started out on a Sunfish, and raced BlueJays, Stars and Lightnings
almost every summer. In addition, my father owned an L16, which I sailed
on frequently. I also owned sailboats and chartered sailboats as an adult.

I don't mind sailing on the ocean on occasion, but the wind on the Bay
in the summer is sketchy. And sailing is too much around here.



Read that last sentence. That was typed by a guy who says he makes a
living as a writer.