If there's an excise tax, what that means is over the cycle we're going to have less earnings than we would have had, and therefore our ability and our willingness to invest is going to diminish.
More Quotes from Lee Raymond:
It is unfortunate that there are people who say that capitalism is inherently immoral. I do not view it that way at all. I think that capitalism, more than any other system, gives a person the capability, through economic growth and economic development, to provide more opportunity to people.Lee Raymond
Petroleum earnings go up and down with the volatility in the openly and globally traded commodities in which we deal. ... History teaches us that punitive measures hastily crafted in reception to short-term market manipulations, will likely have unintended negative consequences including creating disincentives for investment.
Lee Raymond
When the company does well, the shareholders and employees should do well, and when the company does poorly, then the shareholders and employees should do poorly. The facts are that when prices of oil collapsed, the incentive program went down, substantially.
Lee Raymond
History teaches us that punitive measures hastily crafted in response to short-term rises in prices will have unintended consequences and disincentives to investment,
Lee Raymond
Crude oil prices weakened in the quarter, driven by the slowdown in Asian economies, mild winter weather, and a surplus of crude oil supplies,
Lee Raymond
We would be absolutely amazed, although pleasantly surprised, if the Federal Trade Commission said we did not have to rationalize some assets,
Lee Raymond
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