Congress has been grilling the major oil companies in recent days, taking full advantage of our frustration over increasing gas prices to continue to demonize them. This lame attempt to gain political advantage in a awful situation is incredibly heinous, since it is government regulations that have prevented both new drilling and the building of new refineries in the US; both of which would aid the supply side of the equation. Such grandstanding by politicians was bound to backfire sooner or later. This appears to have happened.
I never thought I would hear it admitted by a liberal politician but Maxine Waters, Democratic Senator from California, threatened John Hoffmeister, the president of Shell Oil with nationalizing oil companies in the US. In fact, she almost used the dreaded "S" word (socialize) as this Fox News coverage of the hearings illustrates.
http://youtube.com/watch?v=PUaY3LhJ-IQ&feature=related
It has long been suspected that radical liberals, especially those in California, were attempting to turn the US into a government ruled by socialism in principle if not in fact. In this nonsensical diatribe, Sen. Waters finally confirms it for the microphones.
As a side note here, at a time when this country is crying out for more oil and more refining capabilities, the talk of nationalizing their companies should certainly inspire American oil companies to make major capital investments in infrastructure and long-term speculative drilling.
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...well to add my very "green" two cents to this topic, Europe can't remember gas under $5 in recent history. Consequently their auto industry responded by making smaller more fuel efficient cars. I think our answer to this whole "oil crisis" is simple. Number one provide some help immediately! The minimum wage earners are standing at the pump making life decisions like "fill up" vs "feed children"! There was no graduation in gas prices, they just flew through the roof. So be it federal relief (or the more probable) state relief...help must come. Secondly, lets get real about what we are driving. Our families are getting smaller... do we really need Hummers and other gas chugging cars? Instead lets give the earth a break, make more "domestic" fuel efficient and hybrid cars. Oh...and we will remember to put a harley sounding dear wistle on the hybrid cars so they are less harmful to the blind (because of course we have seen a huge spike in hybrid/blind pedestrian fatalities. *tounge in cheek, ouch it hurts*). LOL (see: http://news.cnet.com/8301-10784_3-9874568-7.html )
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