Gulf Spill end result "nationalizing of oil industry in the U.S."

[Large Sarge]

I am thinking besides the huge loss of food, jobs, etc

the end result will be nationalizing the whole oil industry (maybe the energy industry?)

basically the cost of this disaster will more than bankrupt BP

and the cost to the economy will bankrupt those states, towns, counties, etc

with the problem - reaction - solution M.O.

Oil companies will be taxed, regulated to death, to cover the clean up, the cost of oil in the U.S. will get so high, that alternatives become affordale, and the oil companies go broke

or

the Govt does a massive grab on the oil industry

creates an "oil czar"

sets prices, sets quotas on production, sets limits on exploration/drilling, etc


Those are the 2 outcomes I see as probable

but this thing is getting worse by the day

and the old playbook "problem - reaction - solution" still largely works

[k-os]

I had this same thought a few days ago, except there is one flaw. The Gulf of Mexico doesn't belong to the USA. I don't think we can nationalize something that is in international territory.

However, stranger things have happened.

[Dirty Harry]

I think this is why they have been dragging their feet. Let it become a crisis, and like brother Rahm has been quoted saying, "never let a crisis go to waste".

[JohnQPublic]

I am thinking besides the huge loss of food, jobs, etc

the end result will be nationalizing the whole oil industry (maybe the energy industry?)

basically the cost of this disaster will more than bankrupt BP

and the cost to the economy will bankrupt those states, towns, counties, etc

with the problem - reaction - solution M.O.

Oil companies will be taxed, regulated to death, to cover the clean up, the cost of oil in the U.S. will get so high, that alternatives become affordale, and the oil companies go broke

or

the Govt does a massive grab on the oil industry

creates an "oil czar"

sets prices, sets quotas on production, sets limits on exploration/drilling, etc


Those are the 2 outcomes I see as probable

but this thing is getting worse by the day

and the old playbook "problem - reaction - solution" still largely works






I saw an article on ZeroHedge that indicates that BP has a $75 million maximum liability (http://www.google.com/hostednews/ap/article/ALeqM5i-Bq4GrZpMDSMrtPh6TBPh6-bHdAD9FFM2A80) with this operation. Ain't that a beauty if true?

[Defender]

Oil companies will be taxed, regulated to death, to cover the clean up, the cost of oil in the U.S. will get so high, that alternatives become affordale, and the oil companies go brokePeople need to realize that corporations do not pay taxes, fines, or regulatory costs. They just shift the expenses to their customers, employees and/or stockholders (and as of late - the taxpayer.)

[DMac]

I wouldn't be surprised what so ever.



Here's a crazy thought:

Nationalize all of BP's holdings and property inside the US and surrounding waters for the calamity they have perpetrated in the Gulf.

[Horn]

Are you sure your not cog in the machine, LS? :-X

[DMac]

Damn. Check this document out: (PDF LINK) (http://www.npr.org/blogs/thetwo-way/Grijalva%20MMS%20ltr.pdf)

snip



February 24, 2010

Ms. Elizabeth Bimbaum, Director
Minerals Management Service
Department of the Interior
1849 C Street, N.W.
Washington, DC 20240


Dear Director Bimbaum:

In recent months, we have heard disturbing reports regarding British Petroleum’s (BP) Atlantis
platform in the Gulf of Mexico. This platform, the largest oil and natural gas platform in the
world, may be operating without crucial engineering documents, which, if absent, would increase
the risk of a catastrophic accident that would threaten not only the workers on the platform, but
also the Gulf of Mexico and the communities who depend on the resources it provides.

[I am me, I am free]

I had this same thought a few days ago, except there is one flaw. The Gulf of Mexico doesn't belong to the USA. I don't think we can nationalize something that is in international territory.

However, stranger things have happened.


All minerals (and other resources, including what little fish if any will be remaining) within 200 miles of the coast do actually belong to the USG.

[k-os]

I had this same thought a few days ago, except there is one flaw. The Gulf of Mexico doesn't belong to the USA. I don't think we can nationalize something that is in international territory.

However, stranger things have happened.


All minerals (and other resources, including what little fish if any will be remaining) within 200 miles of the coast do actually belong to the USG.


Thanks I am me, I am free, I didn't know that.

Well then, with my tinfoil hat firmly in place, I'd say nationalization is exactly where we are headed and where we were headed all along with this disaster.

The point is to get everyone pissed off enough to where they are begging for the government to expand it's authorities.

This is how they've always done it.

[sirgonzo420]

I had this same thought a few days ago, except there is one flaw. The Gulf of Mexico doesn't belong to the USA. I don't think we can nationalize something that is in international territory.

However, stranger things have happened.


All minerals (and other resources, including what little fish if any will be remaining) within 200 miles of the coast do actually belong to the USG.


Thanks I am me, I am free, I didn't know that.

Well then, with my tinfoil hat firmly in place, I'd say nationalization is exactly where we are headed and where we were headed all along with this disaster.

The point is to get everyone pissed off enough to where they are begging for the government to expand it's authorities.

This is how they've always done it.


Georg Wilhelm Friedrich Hegel would be proud!