|Letter to the Editor~Edelbrock|
|Monday, June 27, 2011 9:50 AM|
The greed of the oil industry knows no limits. It is terrible that when the economy is showing a little life and some jobs are starting to appear the oil industry stick out its hand and takes the little extra income we have to fill their pockets. Money that could pay bills, take vacations or just make life a little easier.
I wish when the government reviews the large profits from the CEOs of the oil industry, they would ask some real questions. “Why have the oil companies closed more than half of the refineries since the 1970s?” Or “Why aren’t the current refineries at max production to increase supply and lower costs?” Or “Why are they closing more refineries and importing finished products from other countries?”
In my opinion, the government should nationalize the industry for a few years; use the billions and billions of dollars in profit to pay some of the national debt; and build plants to create jobs so Americans can produce goods and back out imports.
I’m sure some of you will call me a communist. So how about this idea: of the hundred closed refineries, why doesn’t the government buy them all and go into the oil business and start some TRUE competition with the oil industry? It should be a win-win. Competition should bring down the price of gas, diesel and jet fuel.
Some may think this impossible, yet China has done this. A few years ago Petro China knocked Exxon out of “the richest oil company in the world” spot.
Just a thought.
P.S. It would also help the government take away the tax breaks the oil industry gets. Do they really need our tax dollars when they are making billions?
|Last Updated on Wednesday, February 27, 2013 3:27 PM|