Big Oil Profits

[Nords]

One of my original questions has not been addressed: 
What do you think big oil will do with the PROFITS made recently?
Does big oil expect big government to build new refineries for them ?

Funny how those questions relate to each other-- there's an election year coming up and I'm sure contributions are way behind!

 

[laurence]

One of my original questions has not been addressed: What do you think big oil will do with the PROFITS made recently? Anyone in the oil industry out there ?
Does big oil expect big government to build new refineries for them ?

Two words: Mergers, Aquisitions. Why build it when you can buy it?

 

[unclemick]

Hmmm

Lets hope they are as stupid as last time - when some oil companies bought into other businesses - to ah er diversify - Texaco comes to mind.

heh heh heh

 

[Texas Proud]

I think everyone is aware that Exxon is ExxonMobil XOM.
It saves 5 key strokes to just refer to them as Exxon.
.
One of my original questions has not been addressed:  What do you think big oil will do with the PROFITS made recently?   Anyone in the oil industry out there ?
Does big oil expect big government to build new refineries for them ?

On your first point... yes people use a short version of LOTS of companies but know the long name.. thanks for the backup with the other poster.. As an example... who refers to the accounting firm of PriceWaterhouseCoopers? Just call it Price.. Or International Business Machines IBM... General Electric?? etc. etc....

On you second point, or question... I do not think they will do anything with the profits in the short term except hold on to them and maybe buy back more stock... There is not good reason to invest in explorations at this time.. there is no good reason to build a refinery... Just milk it for all you can right now.