Monday, July 28, 2008
" THE EASY WAY OUT "
Help me out with my conclusions to end our economic problems. I know it isn't complicated and filled with fancy innuendos and pie-in-the-sky resolutions, and I am not taking any credit for the idea, but what if we just nationalized our own oil industry, keeping here what we produce here and selling here what we refine here, wouldn't that solve most of what is going on and bring sanity back to oil prices? It seems to me that we are in the mist of a national crisis effecting the whole country and the whole economy. Should a few oil barons and oil company politicians and wall street speculators hold the whole nation hostage, just so they can enhance their bottom line? Ronnie The Rat didn't bat an eye when he nationalized the airline industry and took over the unions........"For the good of the people" Ya right! So what do you think? Are we in deep enough shit yet or should we wait a little longer.......like till this winter?
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8 comments:
Not sure how this would end our economic problems. We don't produce even oil domestically to cover our daily requirements.
Plus the economy is in just as much trouble due to high debt this country has incurred; trade imbalance; and sky-rocketing grain prices.
CJ...Oil prices are driving our economy at the present time. If we control the product we can control the price and control the economy. This is what is happening now but the only difference is to who is controlling where the profits and the economy is going. The few are benefiting at the expense of the many.
To some extent this is true. However we had a trade imbalance long before we had sky-rocketing oil prices. Increased world population has put a strain on food production. Automation has put millions out of work.
Oil is a big player, but we have many more problems to solve after that one.
Jack--you're forgetting something.
No major oil company is privately owned. The executives that run them are not barons, and the "Wall Street Speculators" don't work for the industry. These are publicly traded companies whose common and preferred stock feeds a a lot of people's 401(k)s. You can't just confiscate people's life savings like that. It's so wrong on so many levels I can't even begin to start with it.
This is a crisis, and it's dangerous, but the American economy is actually quite diversified. This is a cyclical economic downturn. To be expected. It may even get worse before it gets better, but what you're advising sounds like a panic move, and what's the first thing they tell you to do in any crisis? Don't panic?
I do feel bad for folks who have to fill up oil tanks this winter, though. Something needs to be done about that, for sure.
Ross...I understand all that but need trumps greed every time. Call it a hostile takeover and go from there. It will no longer be a publicly traded commodity but a commodity solely owned by the public. I see no other way out.....do you?
"Need trumps greed" doesn't work when faced with "nor shall private property be taken for public use, without just compensation".
There are a few ways to go. They may not be the way "out" insofar as going back to the days of 15mpg trucks and dollar-per-gallon gasoline is concerned, but hey, look: petroleum in Europe is like eight dollars a gallon, and they're still chugging along. It's just a change in attitude.
Given America's technology history, this situation will spur advances in transportation technology that will allow us to continue living life as we know it well into the future.
Ross...I didn't say there would be no compensation. And I agree that research and development is one of the shinning lights of America, I also submit to you that when your government and the oil industry actively work together to see that that doesn't happen, then it ain't gonna!
Oil is $8.50 and more per gallon in the communist E.U. of Europe so what are you crying about?
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