Nationalizing the oil industry should be the central tenet of any progressive political movement. Evidence of the industry's involvement in the invasion of Iraq as well as its obvious complicity in corrupting the political system should provide ample proof that the oil giants are a clear and present danger to democracy and need to be put under state control.Read more...
In an era of oil scarcity we no longer have the luxury of allowing a handful of corporate plutocrats to decide the fate of the global economy. The industry chieftains have deliberately closed down refineries to lower production and enhance their profits. They have sluiced boatloads of cash into the political system to ensure that congress and the executive carry out their directives. Presently, there's not an inch of daylight between the Exxon boardroom and 1600 Pennsylvania Ave, they both operate off the very same script.
The oil industry is the primary beneficiary of Bush's war in Iraq. Industry executives had a place at the table when Dick Cheney carved up Iraq's oil fields for future distribution among America's elite corporations. Freedom of Information requests have provided "edited documents from the Cheney Energy Policy group. One of these was a map showing lease areas where oil drilling was planned (in Iraq). Another consisted of a list of 40 oil companies from 30 nations who were slated to get permission to drill for oil in Saddam Hussein's Iraq. The problem for the US and Britain was that their oil companies were absent from this list of those who were to get concessions.The US and UK would thus be frozen out of what was clearly one of the greatest material prizes in world history." ("The CFR Debates" Lawrence Shoup; Z Magazine March 2006)
Filed under: nationalize oil