Democrats Demand Nationalizaton Oil Industry And Control Oil Flow

[las47032]

The itch to control the U.S. oil industry is spreading among Democrats in Washington, with Rep. Maurice Hinchey, D-N.Y., joining in a call to nationalize the energy company assets.

"We (the government) should own the refineries," Hinchey said today, according to a Fox News alert. "Then we can control how much gets out into the market.

WND earlier reported when U.S. Rep. Maxine Waters, D-Calif., during a grilling of oil executives by a panel of U.S. House members, threatened to nationalize the industry if executives were unsuccessful in bringing pump prices for gasoline down.

A report by Fox News, captured in a clip posted on YouTube.com, showed Waters challenging the president of Shell Oil, John Hofmeister, to guarantee the prices consumers pay will go down if the oil companies are allowed to drill wherever they want off of U.S. shores.

Hofmeister replied: "I can guarantee to the American people, because of the inaction of the United States Congress, ever-increasing prices unless the demand comes down."

The Shell exec said paying $5 at the pump "will look like a very low price in the years to come if we are prohibited from finding new reserves, new opportunities to increase supplies."

Waters responded, in part, "And guess what this liberal would be all about. This liberal will be about socializing … uh, um. …"

The congresswoman paused to collect her thoughts.

"Would be about, basically, taking over, and the government running all of your companies. …"

The oil executives responded, according to Fox News, by saying they've seen this before, in Hugo Chavez's Venezuela.

Fox reported today the latest statements from Hinchey came as Democrats responded to President Bush's call for Congress to lift the moratorium on offshore drilling.

Democrats said a committee vote on an amendment to lift a ban on offshore drilling was cancelled so representatives could focus on a supplemental Iraq spending bill.

Hinchey, one of the more ardent opponents of off-shore drilling, simply said Congress will do what is "in the best interest of the American people. Not major corporations."

Source: Dems want control over U.S. oil flow

Congressman Maurice Hinchey's statment about nationalizing oil. YouTube - Maurice Hinchey: Let's nationalize oil!

Congresswoman Maxin Waters threatens to to do the same. YouTube - Maxine Waters threatens to nationalize U.S. oil industries

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[Woodmonkey]

Oh good. They've got such an excellent record with Social Security and Medicare.

[Snowden]

And we feel like we're in trouble now?

Where is Newt Gingrich and his Contract when we need him most?

[Woodmonkey]

The Republicans could still have control of both houses of Congress if they'd been smarter.

[Chrisj]

Nationalisation the watch word for inefficiency, incompetence and inaction. You only have to witness any nationalised industry anywhere in the world to see how unsuccessful it is as a policy. Government appointed lick-spittles with no knowledge of the industry running massive companies just because they happen to play golf with the right person. A work force with no incentive to work because the government will always bail them out. The only way pump prices would drop was because they were being subsidised from some other area of government spending.

[Snowden]

True; and it doesn't matter what is nationalized.