Very rarely can somebody say that something would truly be better if it were administered by the government. That being said, with great fear and trepidation I say that the time has come for Americans to take the future of their energy into their own hands and nationalize the oil exploration, extraction and processing that takes place within the borders of the United States.
I say this for a number of reasons. If oil were nationalized, it would be a government corporation for the people and by the people. This American corporation would work for the people rather than a select few billionaires in a boardroom somewhere. On top of that, any profits that the nationalized firm makes can go toward developing technologies for greater American independence, such as fuel cells, ethanol and oil shale.
It is safe to say that nationalized oil is the wave of the future. Why should the government settle for letting a wealthy corporation take billions in profits while it takes only a teeny fraction of that in royalties? Other nationalized oil firms, such as PEMEX in Mexico and PDVSA in Venezuela, pump any profits they have straight back to their governments, and hence, the profits go to their people. With America’s current system, instead of helping ourselves, we help a select few. I’m not against companies making a profit, but I can see no reason Exxon’s CEO, Lee Raymond, should receive a $400 million retirement package while we pay $3.00 for a gallon of gas. Wouldn’t it be nice to know that when you fill up at the gas pump, a little of that money that you spend, in some little way, goes right back into your pocket?
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