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Tap federal lands for oil, BLM urges
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China and India are emerging from the 3rd world into the 1st world. Their demand is driving prices up.
If we stopped buying from China and India they couldn't use our money to bid against us.
Would somebody please start a retailer with zero products made in China or India?
How simple do you need to get. Supply and demand. If supply is in the hands of countries that we buy from, and they gouge America. How do you counter that???? DRILL!!! We need to CONTROL our own supply and demand!
When you can't buy the gas you need no matter how much you are willing to pay, that will be a true emergency. This is just two decades of pent-up inflation coming home to roost.
The US orgy of driving 13 mpg SUVs and Pickups has a lot more to do with this than all the actions of all the environmentalists put together.
We are now seeing the REAL COST of energy. Get used to it.
Where are we going to come up with a large enough company to compete with the well-established giants?
I can't think of any -- so here's some food for thought. What if we the people -- through the federal government -- fund a new department of the federal government to create and oversee a new oil company that can compete against -- but not regulate -- the existing greedy oil companies?
We have GOT to find a way to create new competition -- possibly even government subsidized -- if we expect to get our economy back on track.
As has been pointed out numerous times before, oil company profit margins are about 10%. That's the most that you could possibly reduce the price of gasoline if you were to establish a non-profit entity to do the work for them. And you are unlikely to accomplish that because your hundreds of thousands of employees (ExxonMobil alone has 80,000) will all be on Federal pay schedules, earning Federal benefits.
By the way, this would all come at a cost of hundreds of billions of dollars (oil is a capital-intensive industry). And should I even bother to point out that the government has a dismal track record of running companies? (AMTRAK anyone?)
The price spike is not caused by oil companies or a lack of competition. It's caused by the fact that demand outpaces supply.
But I'm sure these facts won't get in the way of your socialism.