Monday, June 20, 2022

Libya, an oil producing country, subsidizes the price of it's gasoline distribute in country by the national oil co-op. They pay 11 cents a gallon.

 Some other countries also produce oil, and don't have vast military defense and offence budgets, and have cheap gas. 

Hmmm, I wonder, when you have a lot of oil, why is it no one is trying to conquer your country in a fast little war, for your oil reserves? 

Corollary, when a country has a vast oil reserve, and a vast military budget, is it impossible to make the oil a national asset, and not let it be owned and sold by international oil corporations for enormous profits that result in 6 dollar a gallon gas, before taxes, which only benefits the oil companies?

1 comment:

  1. Capitalism 101, property which includes resources must be in private hands and sold when required to the highest bidder. Look at the trouble Venezuela got into when it took back its vast oil reserves. Oil companies were not happy and acted accordingly. Norway is my own personal choice as to how best manage your resources.