Posted on 05/29/2008 5:14:07 PM PDT by Kaslin
Politics: Imagine an America where the government decides what profits are acceptable. Imagine our country with the oil industry nationalized. Impossible? Not with Democrats in control of Washington.
"This liberal will be all about socializing, uh, uh . . . would be about . . . basically taking over and the government running all of your companies," Rep. Maxine Waters told oil executives on May 22 during yet another show-trial congressional hearing.
Socializing, nationalizing the term doesn't matter. But the result is the same. Oil industry takeovers are disastrous. Does Waters really want the U.S. to go the way of Venezuela, Iran, Bolivia or Mexico? Those nations that have nationalized their domestic oil operations and have suffered economically because of it.
And as wretched as their situations are now, their economic prospects are even poorer as long as their corrupt governments continue to control their oil industries.
Meanwhile, Waters' colleague from Pennsylvania's 11th district, Rep. Paul Kanjorski, is proposing a federal "Reasonable Profits Board." Its members would be charged with determining when oil and gas companies' "profits are in excess."
Forget that it's impossible to objectively define what's "excessive." When the energy companies' profits increase, so will their federal taxes.
(Excerpt) Read more at ibdeditorials.com ...
I wish we had an energy audit of Ron’s home and lifestyle.
Isn’t there a bit in Atlas Shrugs where the government man is frantically asking what can be done to reverse the mess they made and they are told to just stop doing anything and get out of the way? It’s been a long time, so perhaps I should read it again.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.