Yet another perspective about high oil prices
Posted by Tina
Another call for government control of the oil industry has prompted rebuttal and of course polling. Investors Business Daily takes a look at the desire by some Democrats to take over private companies in the US and they have concluded interfering government is really to blame:
The fact is, the world’s oil crisis is due almost entirely to government intervention in working markets at all levels. As we’ve noted before, roughly 93% of the world’s oil reserves are controlled, directly or indirectly, by governments. It is they who have screwed it up. ** Among the world’s 15 largest oil companies, 13 are mega-sized, government-owned behemoths such as Mexico’s Pemex, Venezuela’s PDVSA and Saudi Arabia’s Aramco. Compared with them, Exxon Mobil and Chevron are tiny. ** A Rasmussen Poll released Tuesday showed that 37% of Democrats think nationalizing the oil companies is a good idea. Only 32% disagreed with that. ** Which makes us wonder: Do they even know that socialism state ownership of the means of production has been completely discredited by history?
Government ownership, taxation and unreasonable restriction are the biggest culprits in this crisis. And our esteemed leaders are talking about nationalizing (taking) our oil companies and refineriesover one third of Democrats in Congress are in favor of tossing property rights and our Constitution to the floor…to be trampled to death by their tiny fascist feet. Extraordinary!