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To: Doe Eyes
Exxon doesn't pay $131.90 for the oil it produces.

No. They don't. But they could sell that oil they produce on the spot market for $131.90. So, what would you have them do? Sell it to us for less than others would pay?

Moreover, Big Oil produces only 25% of the crude it refines. Much of the rest is bought on long-term contracts -- from suppliers like OPEC.

What must they charge in order to budget replacement of the oil they consume?

31 posted on 05/23/2008 4:07:14 PM PDT by okie01 (THE MAINSTREAM MEDIA: Ignorance on Parade)
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To: okie01
What must they charge in order to budget replacement of the oil they consume?

I believe in the free market.

I don't have to misrepresent profits/costs in the oil industry to back up my beliefs.

32 posted on 05/23/2008 4:12:26 PM PDT by Doe Eyes
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