Sen. Maxine Waters threatens to Nationalize

[Mike Strong]

California Sen. Maxine Waters threatens to nationalize the oil companies,...

.... actaully she had a little brain fart, and used the word "socialize", then just said, "we'll just take over all the oil companies".


What a fucking idiot.

[BAI HE]

Who does she think she is Khomeini?

[nianfong]

I think government regulation for oil companies would be very good for the country as a whole. fucking oil bastards.

[qiphlow]

i agree with fong. i'm all for these guys making some money and all, but damn... quarterly profit in the billions? how much is enough?

[ashe]

as a small business person i'm all about profit. FAIR profit.

that's the biggest problem with the mega-corporations today is they're not happy unless they're operating on high double digit profit margins.

[Ian]

California Sen. Maxine Waters threatens to nationalize the oil companies,...

.... actaully she had a little brain fart, and used the word "socialize", then just said, "we'll just take over all the oil companies".


What a fucking idiot.

What's your solution (just curious)?

[klonk]

If you look at oil company profits as a percentage of volume, it's actually rather modest, not extraordinary at all and not as much as some other businesses. Those big numbers, though, are startling!

The problem we are experiencing is on the supply side, and has more than a little to do with increasing demand for oil in India and China.

[Mike Strong]

Ian,

Solution ?

I don't see where there is a problem !

[Darth Rock&Roll]

every other commodity that is a necessity is regulated.

electricity for your home, water for your consumption, the food you eat.

why not the very stuff that society runs on? IE oil. We are held hostage by the prices corporations charge us on a commodity that believe it or not is 100% necessary to the function of our civilization. YOu granola eaters can shut the fuck up because you live in a new urbanism fantasy land where nobody commutes and everyone is healthy...anyway, I digress.

I agree, Oil should be regulated but at the same time allowed to function as a private business.
There are price caps on milk and bread that are there by regulatory controls. The same should be true of oil and gasoline.

also, the auto manufacturers should have their feet put to the flames a la ralph nader style and provide society with a fucking alternative. the technology has been there for 100 years, and nothing significant has been done.

so, while the senator may not be articulate, or may even have more sinister intentions, I agree, oil and gasoline should be regulated once and for all by the state.

I'm sick of this trotsky bullshit focuking crap that's been going on since the 80's. That guy should have been fuckin shot long before his time.

[Peacedog]

xxx

[Steve James]

I'm sort of with Mike Strong on this. There's no reason why a company that produces something shouldn't be able to sell that product for whatever it wants. Otoh, the problem is that the product has become a virtual necessity.

Ok, nationalization is not as easy as it sounds. The nation would have to buy the oil companies or it would steal them. Either way, there'd be long legal battle and a huge settlement that the public would eventually pay for. But, suppose that, ultimately, the cost of gasoline/fuel could be kept down (btw, it's $1.50 in Moscow and .15 cents in Venezuela). What would happen in the US? People would go back to driving land yachts at 90 mph.

The problem is that we depend too much on fossil fuels. The solution is that we use less. Ok, I understand the problem of commuting in places like LA or Phx or LI, but that's why they invented buses. Otoh, I wouldn't argue against letting trucks, trains, ambulances, fire engines, sanitation trucks, etc., get gasoline at reduced prices. The same way senior citizens get discounts on public transportation.

Car companies won't produce the cars they can produce until the public stops buying the less efficient models. Imo, gas prices are still way lower than they should be, compared to many other countries. The oil companies aren't dumb; they could lower the price, and still make a huge profit. But, they see no reason to do so as long as we keep buying.

Figure about $8 per gallon for September. Could be the best thing that ever happened to the atmosphere.

[Walter Joyce]

If you look at oil company profits as a percentage of volume, it's actually rather modest, not extraordinary at all and not as much as some other businesses. Those big numbers, though, are startling!

The problem we are experiencing is on the supply side, and has more than a little to do with increasing demand for oil in India and China.

Your statement illustrates the problem with looking at profits as a percentage of earnings where volume is high. Even in settings where sales commissions are standardized as a percentage of sales price, it is assumed that once the numbers hit a certain level the percentage of the commission is reduced. When quarterly profits are in the billions I'd say you have a red flag for price gouging.

[Mike Strong]

There is more oil under The Dokotas then under Suadia Arabia, ...

... now, with Slant drilling in can be pumped out, except that the government is standing in the way in the forom of excessive taxes and environmental regulations.

Yeah right, - give the oil companies to the same people who have caused our oil suppply problem .

[somatai]

the problem is there is not option for real competition to emerge....ever hear of the electric car, look what happened to that....if oil companies have the power and money to kill off fair competition and then hold our feet over the fire as they raise the prices that is not fair trade or economy.....it is power dictating the rules and the competition and the consumer being stuck with it......m strong...ayan rand was an idiot who did not even live her own truth.....the cult of the individual is so wanting and seems only to produce inflated, fragile egos that seem only to bring about destruction to the many so they can argue how much they deserve their excess....pure bullshit!

[Darthwing Teorist]

This sounds good.