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We have oceans of oil just off of the coast of Massachusetts, California, and Florida, as well as enormous supplies in ANWR, and we've had the technology to safely recover it for 30 years.

I wonder why we're having a problem with scarcity and high prices?!?

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Maxine Waters Calls for Communism

How far removed is America from banana republics like Venezuela, where even with massive oil revenues, there's no food on the shelves thanks to the economy being run by socialist goons? Maybe only one election.

We already have people in Congress who would nationalize oil companies, Hugo Chavez style. From the NY Times:

Representative Maxine Waters, Democrat of California, seized on the record $40.6 billion profit of Exxon Mobil in 2007. She pounded on the company's senior vice president, J. Stephen Simon, demanding to know if gas prices would be lower if the company earned a few billion dollars less.

At another point, Ms. Waters brazenly suggested that perhaps the American oil industry should be nationalized, acknowledging that it was an "extreme step" but one that might be necessary if outsize profits and exorbitant gasoline prices continued.

Crossing Wall Street has one small correction:

Last year, ExxonMobil didn't earn $40 billion, it earned $70 billion. Guess where that missing $30 billion went? I'll give you a hint: Rep. Waters' salary.

Nationalizing the oil industry would quickly result in rationing of gasoline - a wonderful development for power-mad liberal bureaucrats, who could then control who has mobility who doesn't. With an overwhelmingly Democrat Congress and Obama in the White House, this step would soon be characterized as inevitable rather than extreme. Other industries would inevitably follow.

Here's video of Comrade Waters in action:

People like her could be in charge soon.

The USA is the product of thousands of years of political development. But it might take only a few years to destroy it.

On a tip from General Jack D. Ripper.

Update:

Actually, the $30 billion was only income taxes. ExxonMobil also paid over $30 billion in "sales-based taxes" and over $40 billion in "other taxes and duties" (see page 16 here). The total take is $102.5 billion for government thugs, leaving $40.6 for the shareholders of the company that actually provides us with the oil. But this cut isn't fat enough for Comrade Waters et al. Why leave any of the pie for the people who baked it?

On a tip from Bryan J.

www.moonbattery.com

>>>If we drill in the ANWR, oil prices will only come down about $1.50/barrel, if that. ...<<< brainfix

Totally idiotic leftist propaganda. In the first place no one knows exactly how much increased supplies from ANWR will reduce the price, but it will be a hell of a lot more than a buck and a half a barrel.

>>>>....Drilling off the coasts of various states would severely impact fishing and wreck tourism, so there is a big trade-off. ...<<< brainfix

More propaganda. We have hundreds of rigs in the Gulf coast and they cause no such problems. $5 diesel oil and gasoline is sure as hell going to be a problem for fishing and tourism though.

>>>... The thing we need most is refining capacity, the lynch-pin in this whole mess. It isn't just Liberals blocking new refineries, either. ...<<< brainfix

Yeah, sure brainfix.

>>>... Gas is almost $12/gallon in Germany, which has forced them to adopt measures to get green in a hurry. ... <<< brainfix

Gas is as expensive as it is in Germany because about 75% of the price goes into the pockets of leftist thugs (their Democrats) in the government. That is about to change because the people are wising up and throwing the leftists out of the government over there.

>>> ... We've been lucky up 'till now. Either reduce our consumption, or suffer the consequences. <<< brainfix

You forgot the most logical course of action. We could develop our own abundant oil, coal and nuclear resources, enjoy the prosperity that would bring, and tell OPEC to go screw themselves.

>>>... BTW Willard, howling about Maxine Waters is almost as funny as George Bush claiming Mission Accomplished!!!<<< brainfix

Maxine Waters is an imbecile and will always be an imbecile regardless of any party affiliation she claims. George Bush didn't claim mission accomplished, the staff of the carrier he landed on made up that banner in honor of his visit.

You should at least try to be honest when you're spouting ignorance.