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« Less of a problem in the polticially, environmentally and empty future | Main | Totally batshit and bullshit...why you need to pay attention! »

27 May 2008


Crusader AXE

God the Bo Diddley cover is absolutely awful, ain't it?


State oil companies are shit. They don't invest enough in their infrastructure and sell below cost to the populace because that's politically popular. Then when reality starts creeping in and the scarce good gets rationed by some means or other (heavens no!) you get riots like in Iran. The majority of the world's oil is currently state-owned, which is one reason things are as crap as they are. The big problem in the U.S is that no new refineries have been built in decades. We haven't built any new nuclear power plants in decades either, which makes us look like a bunch of effete airheads even compared to the French.

The idea that because an industry doesn't have as much competition as theoretically ideal perfect competition we should make it into a monopoly (that's what nationalizing entails) is one of the dumbest ones I've ever heard, and I heard of lot of stupid reasons to do things like invade Iraq.

Crusader AXE

Again, the best way to handle the energy crisis is through regulation. Threaten nationalization, and watch the oil companies behave like good corporate citizens. I agree that the US Energy Industry hasn't built any new refineries lately, nor has the energy industry built any reactors. However, it's not "we" who haven't built the damn things. It's the industry. If the government is going to get into the refinery business and the Nuc Power Plant business, then they might as well drive the whole thing.

I was perhaps not clear about the virtual monopoly theory; by virtual, I obviously am not referring to "on-line" or "cyber monopolies. If the industry is one where demand is relatively inelastic and supply is elastic, then it's possible to manipulate the price by manipulating supply. Regulation works when it's possible to control price manipulation in the long run.

I'm not advocating socialism for the oil bidness. I am advocating the threat of expropriation if the industry remains so inattentive to the civic needs and hunger it has created.

uncle buck

I like TGGP's comments, but, I'm with you on this one.
It's like that old ad: You can pay me now, or you can pay me later.
JHK and other visionares can explain the Financial Crisis that's coming better than moi, but it doesn't take much imagination to see a Prez. Johnny calling out the troops to protect our vital resources here at home.
I'd prefer your scenario, in which the Oil Heads are called on their bluff.
Who (exactly) hasn't built any new facilities?
And, why, exactly?
I don't think they can claim they haven't had the revenues to do so.
But they sure have been prevented from drilling fer all that oil up there in that ANWR region by Liberal Legislators haven't they?
Poor bastards.

Crusader AXE

Yeah. If they had only started drilling for the stuff earlier, like 1998! In the ten years it'd take to get to the stuff, we should have a better solution. We probably won't, but what the hell...

Crusader AXE

Yeah. If they had only started drilling for the stuff earlier, like 1998! In the ten years it'd take to get to the stuff, we should have a better solution. We probably won't, but what the hell...

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