[C. Edmund Wright]

Since we don't have a Nationalized oil industry in this county, the oil belongs to the oil companies foreign and domestic who are drilling here in the United states. You and I don't own the oil and neither does the US Govt. So if the oil companies, can get a higher price outside this country, oil pumped in the United States could be shipped elsewhere. -

OK Tom, you are right - but you are scaring me here a bit. Are you saying it is a good thing or a bad thing that we don't have a nationalized oil industry?

And wouldn't more supply solve the problem anyway?

[Capt. Tom]

OK Tom, you are right - but you are scaring me here a bit. Are you saying it is a good thing or a bad thing that we don't have a nationalized oil industry?

I don't believe we should have a nationalized oil industry.

The oil companies have to do a balancing act, because if they appear to be too greedy, and the price of gasoline at the pump skyrockets, nationalizing the oil industry is a tailor made issue to demagogue. Perfect for class warfare. There are a lot more voting Joe-six packs in the country than millionaires. And there is nothing that appeals to most voters like voting themselves some one else's money.- Tom