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Originally Posted by cssutto
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Why in the heck would this scare anyone? Production HAS kept up and reserves are at a 15 year high. Refineries have also been able to build new units within plants and add new UNITS.Oil companies ALSO get 18 billion per year in tax breaks. Some oil companies are simply PLAYING the game and the
massive profits reflect it. If they wanna sell themself...no big deal. They have been publicly traded companies for a LONG LONG time. (And some of them in the usa are foriegn companies anyhow!) The core issue is: opening up new fields and new energy sources (offshore gas for one) I say we should open it up....
but I am not so certain it should be for private enterprise arrangements. Twice in the last 30 years ,big oil has exploited the profit in a big way. I say new fields and new energy sources should be done under a PUBLIC UTILITY structure..with involvement by private enterprise ,but with the federal governments ability to intervene for the common good .There ARE massive reserves of energy(coal,natural gas and possibly oil) The energy reserves belong to the citizens of the USA ..not the big oil companies,not the envionmentalists,not any particular political party and sure as he!! not the stock market.