We are bombarded with complaints about the oil industry. Maxine Waters (D-CA) suggested we nationalize the oil industry. It occurred to me that we have an opportunity to put our money where our mouth is. Why not buy out the oil companies at current prices? Then let the government run the industry as they please. They could set the price of gas. They could drill or not drill. They could enforce their own environmental standards on themselves. Wouldn't that be a beautiful thing!

To raise the money, the government could sell oil nationalization bonds. It would be similar to the railroad bonds sold in the 1800's. It would only take about $400 billion to buy out Exxon-Mobile. I'd have to do some research, but we could find how much to buy the rest of the industry. Remember, the government took over many of the failing railroads such as AmTrac.

In a recent poll, many Americans approved of nationalizing the oil industry.

Rasmussen Report: Just 47% Oppose Nationalizing Oil Industry, do you oppose nationalizing the oil industry?

What about it?

RJ

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Considering the state of our rail system, that's a big "No" from me.

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I am an American. That's the way most of us put it, just matter of factly. They are plain words, those four: you could write them on your thumbnail, or sweep them clear across this bright autumn sky. But remember too, that they are more than just words. They are a way of life. So whenever you speak them; speak them firmly, speak them proudly, speak them gratefully. I am an American. ...a tradition

An absolutely terrific idea. Except for one little thing. It would then be run by the GOVERNMENT.

That's a deal killer if I ever saw one.

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Not a day goes by that I don't see something that reinforces my belief that people are idiots.

There have been a lot of complete fucking idiots who've served in Congress.

Maxine Waters is their Queen...

This is something you'd actually like to see?

That's... fuckin' wow.

If you think a gallon of gasoline is expensive now, wait until "the government" decides it needs to raise money to fund some new program. The easiest way to raise funds, and the hardest for the public to combat, will be to raise the price of gasoline.

I've read a lot of retarded shit on the internet, but that's easily in the top three...

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Obama's New "57 State Patriotic Pin":




Sayeth John Drake - 10/13/08: "OK, you're right, I admit to LYING"

If letting the government run our oil industry is such a bad idea, then why let them try to run it de facto from behind the comforts of Congressional walls?

Why do we let Congress tell the companies where to drill? How much to drill? Why do we let Maxine Waters grill the oil execs on the price of gas? For that matter, why do we let Congress have any say in anything management related?

It seems to me we let Congress play school yard bully and demonize certain industries without any recrimination at all. If they want to get their hand into American business, then I say let them buy their way in and get their feet wet.

Say what you will about Hugo Chavez of Venezuela, but at least he has the balls to take over. Our Congress can only snipe from the sidelines.

RJ

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They don't have to.

Much of the tax on a gallon of gasoline goes to the federal government, and they do nothing to contribute to the production of it. In fact, they're getting that money for nothing.

Why would they want to take over the industry, and deal with the expense and headaches of running that industry, when they can do nothing and rake in billions of dollars?

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Obama's New "57 State Patriotic Pin":




Sayeth John Drake - 10/13/08: "OK, you're right, I admit to LYING"

Actually, I couldn't agree with you more. Letting Congress run the oil industry would be like letting our PTA run GM. I'm trying to make a point here, albeit the hard way. If we can agree that Congress shouldn't have anything to do with running corporate America, why do we allow them to manage by legislation? Why do we have mileage standards for vehicles? Why do we forbid drilling anywhere? The Bureau of Land Management has a land planning process. Many of our federally owned lands have been made off-limits to drilling without any planning process at all. Why? Why let Congress establish how much ethanol to produce?

See where I'm coming from? If they have no business in our business, why do we let them mandate anything at all?

RJ

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hey what could go wrong?

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No individual can plan his own existence in their view.

So the state planners must arrogate to themselves the right to manipulate any sector of the economic system if the good of “society” or the “general welfare” is paramount.

Ipso- if the rights of the individual get in the way, the rights of the individual must be sublimated.

The Road to Serfdom
FA Hayek (interpretation)


Mortgage Backed Security survivor

I am not sure if you are incredibly sarcastic, or a complete nutjob. Complementing Chavez for assuming control of private industry is like complementing Hitler for controlling over-population!

The answer to all your questions is because 50 years of liberalism has redefined the purpose of our government and rewritten the constitution to fit their world view. The solution is to defeat the liberals that have created such government intrusion, clean the federal courts out from activist judges which uphold the governments expanded powers, and start electing conservatives, libertarians, and constitutionalists to office instead of Dems and Reps.

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The (almost)Great SupPackFan Quotes:
"The more times you drive over a cat - the flatter it gets!"
"Differentiating legal and illegal immigration is as critical as separating child adoption from child abduction."

Yeah, when liberals in the chattering class were lamenting the "socialization of loss" for corporations, asking then if it is not fair to "socialize their profits", few of them seemed aware of the fact that we already DO substantially socialize their profits, its called TAXES, corporate income taxes, payroll taxes, inventory taxes, capital gains taxes, taxes on dividends.

Forget the example of the railroads, just look to the U.S. Postal Service vs. FedEx and UPS. If any liberal had a brain in their head and cared about american productivity, and optimizing government revenues, they would cut the U.S.P.S. lose, privatize it, and revoke its legal monopoly on first class mail delivery. That would mean cheaper, better services, profits for investors, and gasp! more revenue for the government!

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"It's a good feeling to shoot a bad guy. Something you democrats would never understand. Americans are homesteaders, we want a safe home, keep the money we make, and shoot bad guys!"

----Denny Crane

And after we prove it works for the USPS, maybe they will believe it can work for Social Security as well!

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The (almost)Great SupPackFan Quotes:
"The more times you drive over a cat - the flatter it gets!"
"Differentiating legal and illegal immigration is as critical as separating child adoption from child abduction."

Well, Social Security is an even more insidious bit of government coercion, it is one of those programs which by its nature screws those who would have been thrifty and responsible.

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"It's a good feeling to shoot a bad guy. Something you democrats would never understand. Americans are homesteaders, we want a safe home, keep the money we make, and shoot bad guys!"

----Denny Crane

I'd like to see retail and fast food nationalized and run on Fordish principles.

So, you would rather the oil industry control our government, than our government control the oil industry?

Of course, the oil industry doesn't control our government, but the influence is sickening. Oil is vital to both our economy and our national security.

Roughly 3/4 of the world's oil supply in is the Middle East, if what we are told about oil reserves worldwide is correct.

While I do not favor nationalizing the oil industry, it is not as dumb as some people would suggest.

I was wondering, have you ever studied Standard Oil of New Jersey's role in WWII?

Here is a link........

Nazis in the Attic

The oil companies basically have a monopoly and that monopoly should be broken up.

Haven't you ever wondered why prices at different gas stations all go up, or down, on the same day? Isn't it funny how in one part of town all the prices are close to the same and in another part of town they are also close to the same, but there can be a considerable difference in price?

There is so much collusion going on you need a score card to keep track.

HERE IS ANOTHER IMPORTANT PIECE.....

, Finance and Urban Affairs for BNL, that is, the Italian bank, information, and the continuing saga of the Justice Department's attempt to obstruct or thwart the BNL investigation.

First, I will talk about an amazing fact. Eleven Cabinet officers and Cabinet-level officials, including the Secretary of State, James Baker III, had to obtain a Presidential waiver of conflict-of-interest rules so they could participate in United States policymaking discussions, decisions and actions in response to the Iraqi invasion of Kuwait in August 1990.

Now, this is a strange alchemy, or let us say wave of a magic Presidential wand that takes 11 Cabinet-level Members and says, `Thou herefore are not in conflict of interest, though the facts may show otherwise, and that is the reason I am waving this wand and saying you are now licensed to do the duty which, to begin with, you have taken an oath to uphold.' And obviously if there was no need to issue this rather unprecedented waiver of conflict of interest to 11 Cabinet-level Members, then why issue it?

So I thought that was rather strange, if not one begging for some questions. I will show that the White House conspired to conceal the President's waiver of conflict-of-interest rules from the public domain for a year and a half after Iraq invaded Kuwait.

I am introducing into the Record an internal State Department memo dated August 8, 1990. The memo is addressed to Mr. Robert Kimmitt, the former Under Secretary for Political Affairs at the State Department. Mr. Kimmitt is currently the United States Ambassador to Germany, and he was one of the primary architects of the United States policy toward Iraq. This State Department memorandum indicates that President Bush had to waive conflict-of-interest rules for 11 Cabinet officers and Cabinet-level officials so that they could participate in the formulation of the United States response to the Iraqi invasion of Kuwait in August of 1990.

US Armed Iraq Through BNL - Rep Gonzalez Special Order




Nationalizing the oil industry is not that dumb, as the line between government and big oil is blurry to begin with.

The main reason I don't like it is because it sets a dangerous precedent and could be used to help implement socialism/communism/facism in America.

And why would socialism be so bad? Since we don't have true democracy now, why not try something else for a change?