While oil soars to record prices per barrel, and oil companys rake in additional historic profits, America is left in jeopardy. The estimated number of Americans profiting from this uncontrolled oil price growth is just under two million. Two million! That’s approximately 6/1000 of one percent benefiting while America is driven into the ground economically.
Its time to put oil under a Public Utility Commission style of regulation. In California, a State that has its own oil fields and refineries, Californians pay more for gasoline and fuel oil than States that have no such resources!
The oil capitalists will argue it can not be done. Oil is a International commodity. That regulation of any kind is anti-capitalism. That they have a right to make the money they are stealing from us legally. I say it is a GREED DEFENSE. Most of the Domestic Oil Fields are on Federal and State property, both land and sea. A company like Exxon, became a megalithic international company through developing Federal Government leased oil fields. Now that they are in 27 countries, the oil executives of Exxon have no allegiance to America – it is all about greed.
In fact, Exxon has publically stated it would not increase its output of oil from its various fields, in order to maintain current price levels. What do you think about that? Does Anti-Trust Law application come to mind? I think it is time to break up a number of these megalithic companies that have hijacked our Government officials. Remember the issue with old MA Bell? MA Bell was monopolizing the telephone market. So, under our Anti- Trust Laws, it was broken up. What did we get in return – competition. The cost per minute went from dollars down to pennies. In fact, the old MA Bell company would not hold a candle to its spinoffs companies, for size today. Imagine what a megalithic company MA Bell would have become by today standards, without the Anti-Trust Laws. Unfortunately, because Anti-Trust Laws have been deliberately ignored, we have companies like Exxon, Microsoft, Chase, Citi Bank, and so on, which have been allowed to grow unabated to the detriment of America as a whole. Monopolies do not breed competition. Oil is a great example of uncontrolled capitalism.
We are past due, to regulate the Oil Industry and to apply the Anti-Trust Laws to such giants as Exxon. The blantant greed of the few should not be tolerated, when such greed severely weakens America by its out-of-control captalistic self-righteousness.
No one has a right to, “Profits Over Patriotism”!!! It is Treasonous for anyone to think their desire for wealth out weighs American security.
Where are our top three Presidential candidates on this issue? All three have only given lip service to the current surge in gas and oil prices. Make no mistake, all three are influenced by the needs of the oil industry over the needs of the American citizen. Its time our elected officials represented us and not big business interests.
