Seeking Predictability

Will Brazil Really Nationalize Oil?

JohnE: Setting aside tact, one must ask if you are dishonest/a Democrat politician or just stupid/uninformed. Truths include: Exxon and others drill where their geologists foresee favorable risk-reward, not just anywhere that government(s) make available; history shows that nationalized anything* is inefficient, including and especially oil and other extraction industries -- China has switched to capitalism while Russia and Venezuela turn back to socialism and declining production; oil company profits are not "absurd" or even excessive -- less than many other industries, less that taxes paid, and far less than investment in future production; renewable energy research, development and installation are booming all over the planet -- carried out by those best able to commerialize (make cost-effective for users), and subsidized, but not owned or controlled by governments; the "thugs", whether dictators or power-hungry politicians, and disdain for the citizens
are found at the top of government -- a monopoly.

Possibly the clearest example of the U.S.
government's misuse of monopolistic power is Speaker Pelosi's adjournment of the House to prevent a vote on drilling for any new offshore oil.

* A rare exception to counter-productive government programs was the Manhattan Project of World War II.


include the Manhattan Project and