[Rhodes22-list] Political- media bias in reporting exposed... afailure to think things thru

[Brad Haslett]

Robert,

I read a book last month titled, "The Bin Ladens" by Steve Coll (author of
"Ghost Wars", another good read on the CIA's role in Afghanistan during the
Soviet era) and at one time the Bin Laden family of construction companies
(ie, Saudi Arabia) were the single largest customer of Caterpillar.  Things
must have slowed down a bit, the local CAT dealer called me at home last
night wanting to "help me meet my equipment needs".  I informed him that I'd
like to find work for the equipment I already have, purchased from other
vendors since they wouldn't give me the time of day shortly after Katrina
when I last called them.  What a difference a few years and a slow-down in
the market makes!

We haven't built a new refinery in the US in over 30 years, too much
NIMBYism.  If $4 a gallon gasoline doesn't change that attitude, maybe $5
per gallon will.  We'll see.

Brad

On Thu, Jun 26, 2008 at 9:48 PM, Robert Skinner <robert at squirrelhaven.com>
wrote:

> As a stockholder in XOM, I find no fault with the
> management, but wish that they had constructed a
> few more refineries when the Saudis weren't driving
> up the market for construction equipment.
>
> I also note that their dividends are keeping my
> Toyota RAV4 in gas and my sailboats in good repair.
>
> /Robert
> ----------------------------------------------------
> Brad Haslett wrote:
> >
> > Mike,
> >
> > If you're smart enough to have bought XOM and hold it long term (wish I
> had
> > been so smart but some of my mutual funds do hold XOM) then you're smart
> > enough to know that they are expected to pay dividends through 'thick and
> > thin'.  I'd be glad to go through their accounting statements and point
> out
> > where your expected dividends are but (1) I hate accounting because I
> have a
> > degree in accounting, and (2) I'm lazy.
> >
> > Exxon/Mobile is enjoying record profits and ballyhoo! for them profiting
> off
> > their investments they made when oil was at $11 per barrel.  As the 14th
> > largest producer of oil in the world and holding only 3% or the reserves,
> > they don't exactly control the market.  You better hope they hoard some
> cash
> > and invest some cash into new reserves so you can collect a dividend
> check
> > five years from now.  Of course, you could always vote with your feet and
> > buy something else.
> >
> > Brad
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