Re: a dumb query? pls humor me
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On 03/06/07 10:08, Roberto C. Sanchez wrote:
> On Tue, Mar 06, 2007 at 01:09:37AM -0800, Paul Johnson wrote:
>> Steve Lamb wrote:
>>
>>> Is it really a return? Tell me Paul, since in your previous message
>>> you touted "testing into the proper grade level" one would presume you're
>>> educated. Tell me what's the difference between profit and profit margin?
>>> Furthermore, can you guess why I'm asking?
>> Yes, I can tell the difference. I think your assumption is based on the
>> idea OPEC isn't profitting massively.
>>
> Wow. You really don't get it.
>
> They sit on a high-demand commoditity, which is in declining supply.
Maybe not.
http://www.nytimes.com/2007/03/05/business/05oil1.html
In a wide-ranging study published in 2000, the U.S.
Geological Survey estimated that ultimately recoverable
resources of conventional oil totaled about 3.3 trillion
barrels, of which a third has already been produced.
More recently, Cambridge Energy Research Associates,
an energy consultant, estimated that the total base of
recoverable oil was 4.8 trillion barrels. That higher
estimate ? which Cambridge Energy says is likely to
grow ? reflects how new technology can tap into more
resources.
> They also spend billions to excract, refine, transport and sell it.
> They *should* be profitting massively.
>
> Now, please demonstrate that you have a semblance of a clue, go read
> Wikipedia about profit and profit margin.
>
> Regards,
>
> -Roberto
>
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