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June 19, 2008 Another Democrat calls for Nationalizing Oil Refinery IndustryThe 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: 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. 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. |
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