The Arabs were sitting on a gold mine and did not know it. Then along came foriegn oil exploration and discovered the middle east is full of oil. The foriegn oil companies told the Arabs that they would drill for the oil, pay for the drilling, and not ask any favors in return. Yeah! Right!
Arab's control a lot of oil. American oil companies control a lot of market. Exxon flips a bird to the shieks and laughs all the way to the bank.
The shieks do not control EXXON. EXXON controls them and will screw anyone "without loyality to government or people". If EXXON can sell gas in Europe for more than they can in America they advertise to get Americans to conserve on gas. It is all legal and capitalistic. Your next door nieghbor Sally is 62 years old. She has not driven a car in 8 years. She bought 15,000 shares of EXXON before she retired. She needs a little more income to take church cruises. She doesn't give a damn how much you pay for gas. Sally wants to party.
2007-07-20 04:58:23 · 3 answers · asked by Anonymous in Business & Finance ➔ Corporations
Nope, we still do most of the work. It is why the Iranians have a gas shortage, they can't get the refineries to work that they stole from the west.
2007-07-20 05:00:09 · answer #1 · answered by Steve C 7 · 0⤊ 0⤋
Ok, thanks for that tirade. Just free associating here but way, way back Alexander the Great was told that oil would burn. He threw a bucket onto a slave and set it on fire because he was so sure it would not. Before the oil was taken out of the ground there were places in the Middle East where it oozed upto the surface - it was actually a nuisance. So, yeah I think the arabs could've figured out the oil was there before we came and told them. Still, foreign companies do run much of the stuff (not all of it by a long shot) and split the profits with the arabs.
2007-07-20 05:11:48 · answer #2 · answered by Slumlord 7 · 0⤊ 0⤋
It is a fiction of imagination of oil rich barrons. Reason , no one told china to pump their oil. Russians in Siberia or Baku never wait for American to teach. It is another media and market hype. More than oil , blood has been pumped out in this oil war. It was an economic gold mine for Americans and land mine for an ordinary arab
2007-07-20 05:31:20 · answer #3 · answered by Anonymous · 0⤊ 0⤋