I don’t see comparing “profit” of a nationalized oil company to the profit of private US companies meaningful.
They fund their government welfare systems, military, etc from their oil profit and must to exist as a nation.
We don’t.
I dont see comparing profit of a nationalized oil company to the profit of private US companies meaningful.
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I understand this however, even a nationalized oil company has to pay their bills. The problem comes in discovering their true costs of production because they virtually unlimited ways of hiding their true costs.