As previously noted, "the value of the oil includes the paid and unpaid labor of the 110,000 workers and the value of the constant capital transferred to the output, like the wear and tear of derricks or offshore rigs, their drill bits, pumps, etc"
S.A. purports to estimate the time per hour during which "workers reproduced their hourly wage." That is, he is after the division of the hour into necessary and surplus labor - agreed? To do that starting from total sales, you must deduct the constant capital value transferred to the final product and hence to its sales amount. That leaves the value created by the petro workers. But S.A. did not deduct the constant capital value. That is one reason why his calculation to 11h15s is incorrect. The petro industry is highly capital intensive. And it typically pays rent to the Saudi or other state. The petro industry of course recovers these costs in the revenue. And S.A. needs to deduct these costs before he has a value amount that he can then divide between the necessary and surplus labor of the workers he counted, namely, the petro workers (not the workers whose labor produced the constant capital that the petro industry purchased). -=-=-=-=-=-=-=-=-=-=-=- Groups.io Links: You receive all messages sent to this group. View/Reply Online (#29714): https://groups.io/g/marxmail/message/29714 Mute This Topic: https://groups.io/mt/105114020/21656 -=-=- POSTING RULES & NOTES #1 YOU MUST clip all extraneous text when replying to a message. #2 This mail-list, like most, is publicly & permanently archived. #3 Subscribe and post under an alias if #2 is a concern. #4 Do not exceed five posts a day. -=-=- Group Owner: [email protected] Unsubscribe: https://groups.io/g/marxmail/leave/8674936/21656/1316126222/xyzzy [[email protected]] -=-=-=-=-=-=-=-=-=-=-=-
