Posted on 05/07/2014 10:38:03 PM PDT by 2ndDivisionVet
ugh
forget Noway socialism - lets just bankrupt OPEC countries
A soveirgn wealth fund that invests outside the US may make sense. But I don’t think we will experience the curse of oil like other countries. Other countries nationalize their industries, which then become make work jobs programs, (ahem, Mexico, Venezuela) which then mismanage the assets into bankruptcy. At least here private companies are still expected to make profits and invest wisely.
“Hey, you, conservative! Do you think too many Americans are on the dole? Just wait until politicians can essentially buy votes by demonizing evil oil companies, taxing them to death, and handing out the profits to voters via subsidies and entitlement programs.”
OK, what?
this article is just ditzy.
How is this any different from what is going on now, with money borrowed from our children?
Does this writer think this government is not doing exactly this just because it has no money?
Need Fusion. But that won’t help if we continue to let every Tom, Dick and Jose into the country.
The author grossly underestimates the size of the American economy. It’s scope is much broader than that of Norway nor Saudi Arabia.
And as for where to invest the profits — that is up to the shareholders who put their money at risk to fund any oil boom that may come
And Saudis do nothing BUT oil.
They import all their help. They are desert dwellers and are very much like the Beverly Hillbillies, only not as educated, self reliant and well rounded.
They would be nothing without oil to sell. And that should explain a lot.
Norway, like Germany, has a single minded cultural makeup. They follow rules and understand the order. Americans, no. It’s why socialism doesn’t take as readily here. THe Germans...they’ll stand at the street corner at 7 am on a Saturday, no one around, and wait until the light changes, allowing them to walk without jaywalking.
Americans no. I imagine the Norwegians to be similar in their readiness to follow big govt ideas.
When the writer says health care is free, she shows idiocy.
Are the doctors working for free? Just donating their time? Do they get a free house and expenses, or do they get paid?
And that’s what people here expect. BO has no more understanding of economics, it seems, than to expect doctors to donate their services, as their money grows on trees, as does all the money of wealthy people.
Otherwise the EPA will come up with an excuse to outlaw Natural Gas just like they've outlawed Coal and end all use of petroleum products as well. It's not like they have to have a reason other than wanting the US to collapse. They make the regs and the Federal government enforces them, no voting or debate required.
Guys an idiot.
That can't be true. When Governor Palin said, "drill baby, drill," we were assured that the governor of an oil rich state had no idea what she was talking about and it would take well over a decade for new oil to come online.
How about paying down the debt if there is some massive tax windfall. The Liberals will just see this as an opportunity to massively increase the debt and the GOP would not be much better - Even if invested offshore they will leverage against it!
Typical liberal thought process.. the ability to become self sufficient and the leader in the world on fossil fuels, potentially eliminating any dependency of foreign oil imports, eliminating the export deficit, paying down America’s debt and creating thousands of jobs is a bad thing that should be stopped.
The clown understands economics well enough. If you start with the assumption he is TRYING to destroy America everything makes perfect sense.
Needs to be repeated.
Interesting article....too bad the author is living in lala land....
Saudi Arabia has oil and that’s about it. Not so with the USA. The author is way off base with his theory.
Comparing the USA to SA is an apples to oranges comparison in regards to both the diversity and breadth of the US economy and the size of it.
This author’s understand of economics would fit in a thimble with room to spare.
Now imagine all those great things totally under the thumb of someone like Harry Reid.
Keep the NG wealth out of the hand of Government, and the US will do well - very well indeed!
But if we allow the Government to control the wealth - to reward their toadies with Sheik-like wealth - we will not recognize what America will become.
But we mustn’t do what the article writer says - the only funds on earth worse managed and more wasteful than the Norwegian sovereign funds would be an American Sovereign fund (shudder).
Instead: the people extracting the NG wealth must be allowed to keep as much of their profits as possible. Also any Government royalties must be used to sharply cut taxes. No-one in government can be allowed a penny!
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