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Letter to the Editor~Edelbrock PDF Print
Monday, June 27, 2011 9:50 AM

 

DEAR EDITOR:

GREED

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.

Mike Edelbrock

 

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
 

Comments  

 
+3 #1 2011-06-29 10:46
Let me guess, you are in a union. What has the government owned that ever worked out correctly? Oh I know, Fannie Mae. That worked out just great, didn't it? "Have the government buy refineries?" This would make sense, since you like making reference to communist China; which is where you should move to. So whose money would the government use to purchase these refineries? Not my tax dollars! What else should the government purchase, hospitals? Oh that's right; they are in the process of that… I spent over 20 years in the military to protect the American way of life: and that is Capitalism. Ever look into how much taxes the CEOs of oil companies pay into a government that constantly discourages growth in their industry (EPA)? Ever notice how much money is returned into the community and charitable organizations? Of course you didn't. Admit it. It is not that the glass is half empty to you... It is that someone is not picking up the glass to put it to your lips.
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