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AMERICA'S OIL and NATURAL GAS INDUSTRY: PUTTING EARNINGS INTO PERSPECTIVE

The earnings of the nation’s oil and natural gas companies are once again fueling the debate as to whether these companies make too much money and whether their success should lead to government action. Ms. Dougher will focus on putting these earnings into perspective by comparing oil industry performance with other major manufacturing industries, showing the size and scale of the investments being made and the taxes paid, and identifying who benefits from the profits earned.

The answers may be somewhat surprising. Ms. Dougher will show, for example, that today’s oil and natural gas industry earnings are typically in line with other major U.S. manufacturing industries. And they pay their fair share of taxes, too—almost 5 percent higher than the average rate for the market.

Moreover, contrary to poplar belief and what some politicians might say, America’s oil companies are not owned by a small group of insiders. Only 1.5 percent of industry shares are owned by company executives. The rest is owned by tens of millions of Americans, many of them middle class. If you’re wondering who owns “Big Oil,” chances are good the answer is “you do.”

This is a meeting that all SPE members will have an interest in attending. Whether you’re simply curious to learn more about how the oil industry earnings compare against other industries, or you’re looking for some supporting facts that address the oil industry’s profitability when you are accosted by friends or neighbors at a cocktail party, you’ll gain valuable insights. There will be an opportunity for questions and answers, so come prepared to participate.

MENU:
mixed green salad

chicken parmesan w/ spaghetti

vegetables de chef

dessert = chocolate mousse

Location: Petroleum Club, 43 Floor, EXXON-MOBIL Building
800 Bell Street
Houston , Texas 77002

Date: March 13, 2008, 11:30 a.m. - March 13, 2008, 1 p.m.