Re: Chomsky: Israel Lobby ?
Seth Ackerman wrote:
I never understood the link between oil prices and oil corp profits. (I’ve seen N & B’s charts.) Aren’t the companies mostly involved in marketing and refining now? Why should their profits go up along with crude prices?
They do, as an empirical fact. It must be a markup thing - 5% on $60 oil is a lot more than 5% on $20 oil.
Doug