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SeldomRite · 07-09-2022, 12:52 PM

(07-09-2022, 12:44 PM)The Real Marty Wrote:
(07-09-2022, 12:12 PM)SeldomRite Wrote: It's the answer to the question of why America is exporting oil instead of using it for the benefit of the nation.

Just to be clear, are you saying you are in favor of the government taking over industries? Just taking them away from the owners?

I'm saying if you want american oil to stay in America then the government would need to take over for the multinational corps, or at least regulate them in a way that the government is the party in charge and essentially running the show. With the various treaties the US is party to I'm not sure there's a realistic way to regulate the oil market side from taking over everything nationally.

(07-09-2022, 12:23 PM)mikesez Wrote:
(07-09-2022, 12:12 PM)SeldomRite Wrote: It's the answer to the question of why America is exporting oil instead of using it for the benefit of the nation.

The question, if we ever did nationalize oil, is would the government use that power rationally like Norway does, rewarding expertise and reinvesting significant profits to improve operational efficiency, or would our government use it like Venezuela does, rewarding political loyalists and diverting all profits to social welfare schemes and corrupt politicians ?

(07-09-2022, 10:23 AM)The Real Marty Wrote: A free market system works best when businesses try to make as much money as possible. That brings competition, increased production, economic growth, and jobs.

You don't cure inflation by asking people to lower their prices. That's idiotic. This whole idea that inflation is being driven by greedy businesses is pure demagoguery.

Oh I know.
My best guess is someone in the oil industry tipped Biden off that some extra supply was about to be offered for sale, or that a big time speculator was about to abandon their market positions, and he timed that tweet perfectly to make it look like he ordered the prices to go down.

I think it's pretty clear the current and last US government executive branch couldn't be trusted to do anything well, so when I talk about what the government could do to fix things I don't expect them to actually do it right even if they were to take over the domestic oil industry.