Congresswoman threatens to nationalize oil industry

Looks like part of the left’s true agenda accidently slipped out at the Congressional Hearings today:

Congresswoman threatens to nationalize oil industry
Maxine Waters warns Shell president in House committee hearing
Posted: May 23, 2008
12:14 pm Eastern

In a grilling of oil executives by a House panel yesterday, Rep. Maxine Waters, D-Calif., threatened to nationalize the industry if it didn’t do something about the rising prices at the pump.

A report by Fox News, captured in a clip posted on, 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.

Full Story

And before the “shoot the messenger” types harp on it is World Net Daily and Fox News, there is video proof of her threats.

Well, there you have it. Arguably the biggest moron in congress, Maxine Waters, D. Cal., revealing their dirty little secret–they want to nationalize the oil companies! Hello, Hugo Chavez, and welcome to the pig trough. Gobble up everything in sight. The pitiful thing is, the people keep voting this woman in, term after term. Even the other members of the congressional panel were laughing at her. Roanoker

we’ll still need more refineries.
and a single gasoline formula would help too.
the best thing for the industry is less regulation.

Two idiots arguing. But I think it’s instructive that when called on “let us drill wherever and whenever we want to, and gas prices will decline,” the oil companies did a quick backpedal. They are hoping that they can drill in wildlife sanctuaries and keep gouging anyway.

Nationalizing them would only make it worse. A firm application of anti-trust and collusion laws would be sufficient. But the current crop of fools in Washington seem unwilling to do it.

We’d still need oil.

We have plenty but Congress has either prohibited drilling, or else made it too costly.

I guess I don’t understand politics and economics. :shrug: What would nationalizing do? And what does it mean to nationalize oil? Does it mean to force a set price?

No. It means the government takes ownership of the company. Essentially, stealing it from the real owners. It is a common tactic of Marxists (i.e. Chavez).

It definitely will not mean prices will go down. In fact, prices would skyrocket. Think of it as a massive tax increase since all revenue would go into the government coffers.

It is also all about control and essentially the first step of making people property of the state (i.e. Slaves)

And since the United States has very few producing oil wells (and all sorts of restrictions to keep us from drilling for more), it means we would still buy from overseas, and still have high oil prices.

But we would have much less efficient government-run refining and distribution.

Why immediately assume that she speaks the truth or that she actually speaks for anyone else in government? Puhleez. She only speaks with authority for whomever elected her in her district and not even for the rest of the people in that small area.

I suspect Maxine Waters would like to nationalize all industires in the United States.

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