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27%  
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  • Venezuela's oil firm drops from Fortune 500

    07/18/2005 9:15:48 PM PDT · by Kitten Festival · 9 replies · 643+ views
    The American Thinker ^ | 07 18 05 | A.M. Mora y Leon
    The biggest companies in America are oil companies. And why shouldn't they be? For just one speculative oil well, drilling to seek commercially extractable oil, the bill can easily come to $50 million. And that's just to find it. Getting it out of the ground usually costs a lot more. Multiply the risk with the volatility of oil prices, and the only way to stay in business is to save for a rainy day. Big oil companies are tremendously capitalized. ExxonMobil is the largest company in America. So it's all the more remarkable to see that the new Fortune 500...