Why not Nationalize our oil industry? We are Americans and the oil under our territorial waters should belong?

to the citizens of the the United States, not to BP or Exxon. The oil companies want us to share in the risks of offshore drilling while they receive tax subsidies. Let's just take what is rightfully ours and use it for our own good, not the share holders of BP and Exxon.

Asked By: Oil Soaked Dolphin - 5/15/2010
Best Answer - Chosen by Asker
In that case, the feds can conduct the necessary research in order to find the oil...which is the biggest expenditure oil companies make. They can also do the physical drilling and maintain the rigs. They can also develop their own refinery and distribution networks... More
Answered By: Islam Delenda Est - 5/15/2010
Additional Answers (10)
I agree with you 100%. I also think the greedy soulless pharmaceutical corporations should be corrected.This latter actually controls the tax payer financed FDA.
Answered By: Smartass - 5/15/2010
OK, works for me, and while we are at it....any business too big to fail should be a utility and owned by the government.
Answered By: Throwing Stones - 5/15/2010
Nice idea but we do not have the amount of hydro carbons to have a Kuwait or Venezuela in terms of using oil wealth. And there would still be the issue of investment. Offshore drilling is more complicated therefore more costly; it requires greater investment... More
Answered By: Matthew D - 5/15/2010
Why not... More
Answered By: John - 5/15/2010
The entertainment industry is larger, lets nationalize that first!
Answered By: Falcon Eddie - 5/15/2010
When you nationalize something, it is only said to belong to the citizens, when it belongs first and foremost to the bureaucrats. The problem with nationalization is that those bureaucrats have an infinite money supply. They can dip into social security, they can have more printed, they can defer a tax on future... More
Answered By: Buying is Voting - 5/15/2010
why not just stop giving them any subsidies and stop setting liability limits that limit the amount of damage they have to pay for when they make mistakes like they just did. that would be a whole lot easier, cheaper and more efficient.
Answered By: sadcryingclowninironlung - 5/15/2010
Agreed ... but it will never happen.
Answered By: og - 5/15/2010
Ok, and exactly where is the money to purchase all the stock of the oil companies , going to come from ? You have heard of the 5th amendment ?
Answered By: jeeper_peeper321 - 5/15/2010
I'm all for it...To Islam and his insidious remark , we'll take the risk with profits in the trillions per year...They only operate the refineries at 50 % to control the price.....Haven't built a new one in 40 years. Another interesting fact , certain people who know the business say if we drill ALL the known oil in... More
Answered By: magick - 5/15/2010
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