‘Big Oil’, Big Good

Cal Thomas, In Defense Of ‘Big Oil’:

Where is it written that the cost for a product or service should be frozen in place and in time, never to rise again, or to rise at a pace commensurate with our incomes? People who think this way know little to nothing about supply and demand and less than nothing about the profit motive. That’s because at least three generations have been raised on the notion of entitlement, and when one feels entitled to something, one believes someone else should pay.

2 thoughts on “‘Big Oil’, Big Good”

  1. Hey Matt,
    You know I agree with this and yet I don’t. Like the utility companies (which are highly regulated) people actually require fuel to live their lives. And since the oil companies have successfully kept any real comprehensive competition off the market, they have a monopoly on energy/fuel.

    I do agree that we have created our own monster to some degree – but, when there is little choice in what type of energy or fuel you can use either because of availability, regulation or the types of machines available to us – it seems the oil companies should not get immunity on this issue.

    If they truly believe in a free market then why not let them welcome some competition, like hydrogen, air and other types of engines, rather than buying up the patents or squashing it.

    The fact is, there is no shortage of oil – so the false shortage created by speculators, and anyone else with a vested interest is holding the American public hostage to some degree.

    I’m all for a free market – so let’s have one, shall we?

    WC

  2. Indeed, but who’s ever going to play by the rules if they don’t have to. Our economic system is suppose to be free (and it is compared to anyone else) but the fact is huge business owners want to have more control than that and the big government wants more control than that.

    Not only is big oil (the monopoly that they are) controlling the market and killing off alternatives but government is killing off alternatives with all of their regulations. Someone who has a good idea for an alternative couldn’t do it because it was cost to much money to get government approval. I believe American car manufacturers, now, would love to come out with a cost effective alternative energy vehicle because they’re sales would sky rocket; they are being hammered due to these high gas prices. There are just so many things that have to happen for alternative energy to be affordable.

    In the UK its 6US a gallon which just goes to show how much some are willing to pay. I don’t think America will see a real change until that time. The sick part about all of this, and I blame the governmment, is there are oil supplies in North America from Alaska to the Gulf which easily compare to Saudi supplies. Someone is in bed with the Saudis. The ONLY thing which would break us from this is war. If a real war broke out in the middle east and we were cut off, we’d have to begin drilling North America.

    All ‘n all though I belive the 21st century will be the one where we transfer over to alternative energy for electricity and vehicles. Oil will always be needed for plastics, etc.

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