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| Subject: LOLOLOLOL!!! | |
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Author: Oropan |
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Date Posted: 11:53:07 11/05/07 Mon In reply to: jw 's message, "Unfortunately, the oppressed people of china and sudan can not laugh." on 09:38:19 11/05/07 Mon I guess it's tinfoil hat day for you! How come you weren't as worried about the people of Sadam's Irag? The modernization of China will bring lots more freedom there. Stuff like that doesn't happen overnight but once it starts, there will be no turning back. Is this just an offshoot of your WalMart rants? Your brand of socialism will never succeed here in the US. People here expect freedom and will never submit to your kooky government controlling ideas. > I guess O doesn't know that china is one of the >most repressive dictatorships in the world, it is >rather hysterical that he thinks a company like petro >china will make them free. And petro china works with >the chinese government to support the sudanese >government, which is committing genocide against >millions of it's own people, all for oil. Again, we >see capitalists working with dictatorships to profit >off their genocide. As america has sadly pumped up >the chinese dictatorship with free trade, we are now >suffering the consequences with rapid inflation and >the loss of middle class jobs. No society run by >greed will prosper for long, ours is now collapsing. > >>So it is our free maket capitalism that makes Petro >>China a demon! I guess you like a hardcore communist >>government better. How dare we allow all those people >>in China to have a taste of freedom and the ability to >>improve their lives....no matter how little that >>freedom might be at the present time. >>Anyway, now you lefties have a new BIG OIL to hate. >> >> >> >> >> >> >>> And you thought it was exxon mobil. Petro china >is >>>now valued by "the market" at 3 times the total >>>valuation of exxon mobil, nothing beats a capitalist >>>enterprise working with one of the world's most >>>repressive dictatorships. Petro china aids and >abetts >>>the genocide in sudan in order to aquire oil. Let's >>>thank our "free trade" capitalist fanatics for >>>building china into the super power it now is, they >>>could not do it without the useful idiots of american >>>capitalism. Kruschev was right, they are burying us! >>> >>>PetroChina's Value Tops $1 Trillion, Surpassing Exxon >>>(Update5) >>> >>>By Ying Lou >>> >>> Nov. 5 (Bloomberg) -- PetroChina Co. almost tripled >>>on its first day of trading in Shanghai, becoming the >>>world's first company to be valued at $1 trillion, >>>more than Exxon Mobil Corp. and General Electric Co. >>>combined. >>> >>>PetroChina shares rose to 43.96 yuan from the sale >>>price of 16.7 yuan, giving the state-owned oil >>>producer a greater market value than the entire >>>Russian stock market. >>> >>>The rally makes PetroChina shares four times more >>>expensive than those of Exxon, even though China's >>>biggest oil producer has a quarter of the revenue. >>>China's stock market was valued at less than $1.1 >>>trillion before tripling this year and giving the >>>communist nation five of the world's 10 biggest >>>companies. >>> >>>PetroChina's valuation is ``an indication of China >>>coming of age and also of its stock market bubble,'' >>>said Hugh Young, who oversees $50 billion at Aberdeen >>>Asset Management Asia Ltd. in Singapore. >>> >>>The oil producer's Shanghai listing pushes China's >>>stock market beyond the U.K. as the world's >>>third-largest. PetroChina trades at 55 times >earnings, >>>four times Exxon's ratio of 13 times earnings and >near >>>the 58 times for Google Inc., the world's most- used >>>Internet search engine. >>> >>>In Hong Kong, PetroChina fell 8.2 percent to HK$18. >>>Exxon shares rose 0.7 percent to $87.93, valuing the >>>company at $488 billion on the New York Stock >>>Exchange. >>> >>>`Sense of Responsibility' >>> >>>``I feel very excited today and also feel a very >>>strong sense of responsibility,'' Chairman Jiang >>>Jiemin said at the Shanghai Stock Exchange. ``This is >>>PetroChina returning to our investors and society.'' >>> >>>Jiang struck a gong as the market opened at 9:30 >a.m., >>>then toasted the start of trading with a glass of red >>>wine. >>> >>>China's largest oil and gas producer had 20.5 billion >>>barrels of oil and gas reserves in 2006, compared >with >>>22.1 billion for Irving, Texas-based Exxon, data >>>compiled by Bloomberg show. PetroChina has been >adding >>>new reserves at an average annual rate of 5 percent >>>for the past three years, a faster pace than Exxon, >>>Royal Dutch Shell Plc and BP Plc, the world's largest >>>oil companies by sales. >>> >>>The share sale, the world's biggest this year, >>>surpassed the 66.6 billion yuan raised by China >>>Shenhua Energy Co. in September. PetroChina raised >>>66.8 billion yuan selling 4 billion shares last week >>>as investors applied for more than 3.3 trillion yuan >>>of stock, almost 50 times the amount PetroChina >sold. >>> >>>Record Oil >>> >>>Those investors were until now prevented from >directly >>>buying PetroChina stock, missing out on a 15-fold >>>surge as economic growth turned the nation into the >>>largest oil consumer after the U.S. and as crude >>>prices reached a record $96.24 a barrel in New York. >>> >>>The CSI 300 Index of shares listed on the Shanghai >and >>>Shenzhen exchanges has increased about 170 percent >>>this year as mainland Chinese investors seek returns >>>on $2.3 trillion of savings, raising investor >concerns >>>that the market is too expensive. >>> >>>Billionaire investor Warren Buffett's Berkshire >>>Hathaway Inc. sold its stake in PetroChina this year, >>>reaping an eightfold gain that contributed to a 64 >>>percent increase in third-quarter profit for the >>>Omaha, Nebraska-based company. Berkshire had 2.34 >>>billion shares as of the end of 2006, the largest >>>holding after state-owned China National Petroleum >>>Corp. >>> >>>Buffett said on Oct. 24 that Chinese share prices >have >>>risen too fast. >>> >>>`Carried Away' >>> >>>``It's easy to be carried away in the stock market >>>when things are going very well,'' he said in the >>>northern Chinese city of Dalian. ``We at Berkshire >>>never buy stocks when we see prices soaring.'' >>> >>>Gains in PetroChina's shares in Shanghai may have >more >>>to do with Chinese investors seeking better returns >>>than the outlook for the company's exploration and >>>production operations, or its refining business, >known >>>as downstream, said Larry Grace, an oil analyst at >Kim >>>Eng Securities Co. in Hong Kong. >>> >>>``Production is static with limited upside for the >>>next three to four years,'' Grace said. ``As for the >>>downstream, the price controls and overall regulatory >>>trend limit the company's earnings.'' >>> >>>China controls fuel prices to shield consumers in the >>>world's most-populous nation from accelerating >>>inflation. The policy limits the ability of >PetroChina >>>and China Petroleum & Chemical Corp. to pass on the >>>burden of higher crude oil costs. >>> >>>The other Chinese companies that rank among the >>>world's 10 largest by market value are China >>>Petroleum, known as Sinopec, China Mobile Ltd., >>>Industrial & Commercial Bank of China Ltd. and China >>>Construction Bank Corp. >>> >>>``A-share prices don't reflect global benchmarks of >>>value,'' said Lorraine Tan, head of equity research >at >>>Standard & Poor's Investment Services in Singapore. >>>``There should be other measures of a company's >>>position, including revenue and profitability. Market >>>cap is not necessarily accurate.'' >>> >>>PetroChina's share surge means it beat by years a >>>Russian pledge to create the world's largest >company. >>> >>>OAO Gazprom, Russia's natural gas export monopoly, >>>would become the world's largest company by market >>>value and top $1 trillion in ``seven to 10 years,'' >>>Alexander Medvedev, the company's deputy chief >>>executive officer, said in April. Gazprom's market >>>valuation today is $296 billion. >>> >>>To contact the reporter on this story: Ying Lou in >>>Shanghai at ylou1@bloomberg.net . [ Next Thread | Previous Thread | Next Message | Previous Message ] |