I wrote on March 23 that we should have bought oil (and Halliburton) stocks BIG TIME if we were cynical and greedy, at the beginning of the George W. Bush administration, in 2000.
Of course I was right. (not assuming I always am, to be sure).
Well, here we are--an article in The New York Times today, saying that there are rising fears of an oil shock, since oil companies have reduced the number of refineries they have, due to the collapse in the price of oil.
You wouldn't think the oil companies would have reacted that far-reaching in this little bit of time but don't forget, it benefits the oil companies--all of them, world-wide--to reduce capacity as much as they can, again and again, over time. The less they can refine, boys and girls, the higher a price per barrel they can get for their precious commodity.
For stability in the United States and for the safety of both our residents, our homes and businesses, we should nationalize the oil companies and as soon as possible.
We never will, mind you. I know that.
As I've written before, we worship profit and profits and wealthy people and big wealth far too much to do what's right for the country.
We should nationalize Big Oil because they're going to do what's right for them--which is reduce capability and wring all they can out of a barrel of oil, in terms of price--and that goes in the face of what is right and good and sustainable for the country.
Screwing us is good business for Big Oil.
Buy oil stocks, folks.
It'll be good for you and your pocketbook, just not the country.
Link to original article here:
http://www.nytimes.com/2009/03/27/business/energy-environment/27oil.html?th&emc=th
Subscribe to:
Post Comments (Atom)
Posts
No comments:
Post a Comment