We Need To Nationalize The Oil Industry In The U.S.

[Mad Scientist]

America has abundant natural resources to include oil. We have a huge amount of oil in Alaska, the Gulf of Mexico and beneath the Rocky Mountains.

The problem with importing oil is that we are then at the mercy of foreign oil cartels like OPEC who determine production rates and price so we get screwed at the pump.

This is America and we are Americans right? This is our country right? Is it not also right to believe that all those natural resources belong to us, the American people as well? Then nationalize the oil companies and all oil exploration within our borders and in the oceans out to international waters. That way we won't be at the mercy of oil cartels and the American people can get a slice of oil profits in the rebate checks they get yearly or quarterly. Yes, that can be written into agreements with whomever drills for the oil.

I know I'll get hammered by those on the right for advocating basically the same thing Hugo Chavez is doing but this is America, we have a Representative Republic and through our elected representatives we could do this in a way that is beneficial to the American people, not just the oil companies. We have to break the control of big oil somehow. Just look how it's destabilizing our economy and squeezing those who can least afford these wild price spikes.

Thoughts?

 

[Skull Pilot]

You think oil prices are high now wait until we inject bureaucracy into the mix.

 

[C_Clayton_Jones]

‘Free Markets’ aren’t working, either – the only two options is the current corporate monopoly or a state monopoly.

 

[Mad Scientist]

You think oil prices are high now wait until we inject bureaucracy into the mix.

Prices are high because of foreign oil cartels. By the way, bureaucracy is already in the mix in the form of taxes and regulation. I would just rather have to deal with our American bureaucracy than foreigners that I can't call to account for their actions.

Alaska (Yeah yeah I know, you hate Sarah Palin. Just stay with me here) gives a dividend check to all Alaskan residents from the oil profits. It's written into agreements with the oil companies who drill there. Sounds good to me:
State of Alaska - Permanent Fund Dividend Division

 

[Toro]

It's a very bad idea.

Governments do a poor job of efficiently allocating capital. We would most likely have less oil if we nationalized the energy industry.

 

[Toro]

You think oil prices are high now wait until we inject bureaucracy into the mix.

Prices are high because of foreign oil cartels. By the way, bureaucracy is already in the mix in the form of taxes and regulation. I would just rather have to deal with our American bureaucracy than foreigners that I can't call to account for their actions.

Alaska (Yeah yeah I know, you hate Sarah Palin. Just stay with me here) gives a dividend check to all Alaskan residents from the oil profits. It's written into agreements with the oil companies who drill there. Sounds good to me:
State of Alaska - Permanent Fund Dividend Division

The Alaska Permanent Fund is a taxation scheme. The industry is not nationalized. Any state can do it.

 

[editec]

America has abundant natural resources to include oil. We have a huge amount of oil in Alaska, the Gulf of Mexico and beneath the Rocky Mountains.

The problem with importing oil is that we are then at the mercy of foreign oil cartels like OPEC who determine production rates and price so we get screwed at the pump.

This is America and we are Americans right? This is our country right? Is it not also right to believe that all those natural resources belong to us, the American people as well? Then nationalize the oil companies and all oil exploration within our borders and in the oceans out to international waters. That way we won't be at the mercy of oil cartels and the American people can get a slice of oil profits in the rebate checks they get yearly or quarterly. Yes, that can be written into agreements with whomever drills for the oil.

I know I'll get hammered by those on the right for advocating basically the same thing Hugo Chavez is doing but this is America, we have a Representative Republic and through our elected representatives we could do this in a way that is beneficial to the American people, not just the oil companies. We have to break the control of big oil somehow. Just look how it's destabilizing our economy and squeezing those who can least afford these wild price spikes.

Thoughts?

To late, now, to do that, I think.

The time to have done that was before investors bought up the land or the rights to drill.

Nationalization of private resources is seldom a good idea.

I'm sympathetic to why you'd like it done, but I think its a bad idea, anyway.

 

[Mad Scientist]

America has abundant natural resources to include oil. We have a huge amount of oil in Alaska, the Gulf of Mexico and beneath the Rocky Mountains.

The problem with importing oil is that we are then at the mercy of foreign oil cartels like OPEC who determine production rates and price so we get screwed at the pump.

This is America and we are Americans right? This is our country right? Is it not also right to believe that all those natural resources belong to us, the American people as well? Then nationalize the oil companies and all oil exploration within our borders and in the oceans out to international waters. That way we won't be at the mercy of oil cartels and the American people can get a slice of oil profits in the rebate checks they get yearly or quarterly. Yes, that can be written into agreements with whomever drills for the oil.

I know I'll get hammered by those on the right for advocating basically the same thing Hugo Chavez is doing but this is America, we have a Representative Republic and through our elected representatives we could do this in a way that is beneficial to the American people, not just the oil companies. We have to break the control of big oil somehow. Just look how it's destabilizing our economy and squeezing those who can least afford these wild price spikes.

Thoughts?

To late, now, to do that, I think.

The time to have done that was before investors bought up the land or the rights to drill.

Nationalization of private resources is seldom a good idea.

I'm sympathetic to why you'd like it done, but I think its a bad idea, anyway.

Well, but Nationalizing would take them back of course. The US Government has already nationalized a lot of public land like the National Parks. It could be done with oil exploration as well.

 

[Big Fitz]

‘Free Markets’ aren’t working, either – the only two options is the current corporate monopoly or a state monopoly.

Crazy ass idea... let's TRY a free market and see what happens.

The US Oil industry hasn't been a free market since the 1930's when FDR meddled in everything, and it just kept growing.

Thankfully, there's a growing momentum in this direction thanks to the overstep by the EPA in trying to shut down drilling, unconstitutionally by overstepping it's power.

 

[Intense]

‘Free Markets’ aren’t working, either – the only two options is the current corporate monopoly or a state monopoly.

Wow!!! Is there a difference??? Someone should break it to GE.

Monopoly Implies Government Sanctioned Control. Does it matter who is holding the gun pointed at you??? Really???

Free Market, encouraging Competition, Beats Centralized Control, and elimination of choice. Grow up Comrade, try supporting it sometime.

 

[Synthaholic]

It's a very bad idea.

Governments do a poor job of efficiently allocating capital. We would most likely have less oil if we nationalized the energy industry.

Nothing would prevent us from still buying foreign oil, as well. It's not an either/or.

 

[ROBESPIERRE]

The wealth and resources of America are not directly under the control of its citizens. The resources of the world are controlled by Big Industry and Big International Bankers.

Just try to "nationalize" and see what happens. It cannot be done. Don't waste your time and thought. Instead, place your hope and trust in the currant managers of wealth in the world. Hope that the USA wins its war in Iraq and Afganistan and is able to monopolized the resources of these two countries before somebody else does, (like Iran). And hope that your Captains of Industry find new sources of energy and new forms of technology they can exploit.

 

[Baruch Menachem]

Because foreigners have their hands on our throat because we import too much oil, we should therefore pass control of a particular industry to a bunch of lazy jackasses who have no interest in doing anything productive about the problem does not sound like much of a solution. The problem is not the ownership of a set of corporations. The problem is too much of a valuable resource is imported.

If we imported less, because we drilled and used our own resources off the florida and gulf coasts, taxed excessive use, or found some other means to increase our own production or lessen imports then we would have less of an issue with overseas kleptocrats. Nationalizing the oil industry would not add a single drop to what we have here.

 

[Intense]

God, I know it has been a very long time since we practiced Federalism (since Madison lost his 1st Supreme Court Case), but people come on, Big Government Big Business, the Silent Partnership, that has been fucking up the Market from the days of Hamilton, how much in denial do you need to be to swallow this shit sandwich. Learn to just say "No Thank you". The Government wants more control, the Government Sanctioned Monopolies want more control, and your response is "Thank You can I have another". Get a Life. Prostituting your self and those around you is not what you need to be doing to repair the damage. You know what. the analogy is not fair. Prostitutes get paid, they actually get something out of the transaction. You corrupt the Value of the means of trade.
Federalism. Decentralized, Competitive means at State and Local level to find solutions to the problems you create and produce on the grand scale, with your head up your asses, multiplying negative effect of every false path you take, by including all of us in your delusion,guaranteeing Everybody loses. Control Freaks.

 

[JBeukema]

‘Free Markets’ aren’t working, either – the only two options is the current corporate monopoly or a state monopoly.

Crazy ass idea... let's TRY a free market and see what happens.

The US Oil industry hasn't been a free market since the 1930's when FDR meddled in everything, and it just kept growing.

Thankfully, there's a growing momentum in this direction thanks to the overstep by the EPA in trying to shut down drilling, unconstitutionally by overstepping it's power.

Dude, America never succeeded with free markets.

We survived and thrived by rejecting free trade.

[ame="http://www.youtube.com/watch?v=RgcdRCWEt4Q"]YouTube - 1932, A True History of the United States[/ame]

 

[RGR]

‘Free Markets’ aren’t working, either – the only two options is the current corporate monopoly or a state monopoly.

Free market is working fine. The free market says that crude is worth $110 or so, and gasoline $4/gal+.

Don't like it? Use less, save money.

 

[Old Rocks]

A single salient fact in this conversation. We have 3% of the worlds reserves, we use 24% of the worlds oil. The single biggest find in the US in recent years, the Bakkan formation, has 3.65 bbls. We import 10 mbls of oil a day. So that find would last about a year, were we to recover every barrel.

What we face is an ever increasing demand for a commodity that is becoming harder to find, and we must use ever more expensive technology to find it.

 

[Immanuel]

Nationalize the Oil Industry?

You mean remove the rights of citizens who have bought and sold stocks in those corporations from profiting from their willingness to risk their investments? On what grounds would you want to do that?

Why not just take every citizen's right to buy and sell all stocks away from him/her? Why limit it to people that trade in the Oil industry? Hell, while you are at it, why not take away their right to hold anything of value? It should all go to the government, right? Of course, this is "For the good of Society".

Immie

 

[Big Fitz]

Nationalize the Oil Industry?

You mean remove the rights of citizens who have bought and sold stocks in those corporations from profiting from their willingness to risk their investments? On what grounds would you want to do that?

Why not just take every citizen's right to buy and sell all stocks away from him/her? Why limit it to people that trade in the Oil industry? Hell, while you are at it, why not take away their right to hold anything of value? It should all go to the government, right? Of course, this is "For the good of Society".

Immie

If they could tomorrow, they would. You know that.

 

[Immanuel]

Nationalize the Oil Industry?

You mean remove the rights of citizens who have bought and sold stocks in those corporations from profiting from their willingness to risk their investments? On what grounds would you want to do that?

Why not just take every citizen's right to buy and sell all stocks away from him/her? Why limit it to people that trade in the Oil industry? Hell, while you are at it, why not take away their right to hold anything of value? It should all go to the government, right? Of course, this is "For the good of Society".

Immie

If they could tomorrow, they would. You know that.

They who? Mad Scientist? No, I don't think so.

There are some who would though. How many times have I read about those "evil corporations"? Think about it, remove the right to hold stock is nothing more than removing the right to hold wealth.

Immie