G.U.N. Oil Report

A moronic OpEd piece at Collegiate Times is calling for the nationalization of US oil fields. This opinion writer honestly believes that nationalize profits means more money for the people, when in fact it is proven over hundreds of years that government profits are just squandered on government cronies. On top of that, government corporations seem unable to attain the efficiencies that competitive businesses do — meaning less oil would be drilled at a greater cost, leaving the chance that profits might be negative, which would bring a tax burden on the people nationalization is supposed to help.

We’ve seen nationalization occur time and time again throughout the world, especially in South American commodities. The truth is that government can not supply what the market already provides. If we want cheaper oil, what we need to do is get government out of the program entirely. Reduces regulations, lower taxes and less war would mean cheaper oil for everyone.