PrintJune 19, 2008
Another Democrat calls for Nationalizing Oil Refinery Industry
The worrying thing is that the Congressman - Maurice Hinchey - isn't getting laughed out of Washington for proposing a nationalization scheme for the refinery industry. Even at the height of liberalism's power back in the 1960's, no Democrat would have seriously entertained the notion.
But a recent Rasmussen poll found a staggering 37% of Democrats - a plurality - support nationalizing the oil companies. This makes one wonder if some kind of serious move might be made to actually bring the industry under government control:
But a recent Rasmussen poll found a staggering 37% of Democrats - a plurality - support nationalizing the oil companies. This makes one wonder if some kind of serious move might be made to actually bring the industry under government control:
The survey found that a plurality of Democrats (37%) believe the oil industry should be nationalized. Just 32% of voters in Barack Obama's party disagree with that approach. Republicans oppose nationalizing the oil industry by a 66% to 16% margin. Unaffiliated voters are opposed by a 47% to 33% margin.
Nationalization is the process by which the government assumes complete control of a private industry and its assets. It has been a common practice in totalitarian dictatorships, but as recently as 2001 following the 9/11 attacks, the U.S. government nationalized the private airport security industry and moved it under the Transportation Security Administration.
Forty-seven percent (47%) of all voters say that private companies are more likely to solve the nation's energy problems than a government research program. Thirty percent (30%) disagree and say the government research program is more likely to find the solution. Again, there is a huge partisan divide. Republicans, by a 71% to 15% margin, say private companies are likely to solve the problem. Democrats, by a 40% to 35% margin, say government research programs are the better bet. A modest plurality of unaffiliated voters place their trust the private company approach.
Congresswoman Maxine Waters - the far out liberal from California - has also called for nationalizing the oil companies. And considering the fact that a large percentage of Democrats support them, one can legitimately wonder what the Democrats have in store for the voter when they increase their hold on Congress next year.
Has there ever been a nationalized industry that has fulfilled its promise of being run for the "benefit of the people? Some European railroads nationalized by governments over the last 50 years have done alright but this is mostly because railroads are a viable alternative in nations where automobiles are secondary. Plus, there are plenty of complaints about service on these national railroads so it is not the huge success that nationalizers make them out to be.
This is as bad an idea as can be imagined. I have some thoughts on the matter here.
