Ironically, the reason for the mergers between the major oil companies was so that they could compete with the various international oil monopolies. Exxon, pre merger, was one of the worlds largest publically traded corporations and yet post merger Exxon Mobile is dwarfed by Saudi Aramco. Saudi Arabia has roughly 1/2 of the worlds ''proven'' reserves and their lift or production costs are literally peanuts, no one else can compete heads up. If Saudi Aramco were a publically traded company Wal-Marts balance sheet would look like the local flea market in comparison. Venuzuela, Brazil, Iran, India, China -- just a few more of the big time players who do not let free enterprise or envioromental standards hinder their search for oil. In other words, the international stage is far from a level playing field considering the operational restraints US and other western corporations operate under. Oil is just to important strategically as well as to our economy to further impede US exploration and development. It is mind boggling that the US petroleum industry has to beg and lobby congress, UNSUCCESSFULLY, to EXPAND their domestic operations and provide good paying jobs while increasing production and lowering total energy costs in the process. As far as countries regulating their natural resources, I guess a few, such as Norway, actually put the money in the public purse. Of course this is socialism, but Norway is a small country that tightly controls its immigration and borders so the toppling of the ponzi pyramid will probably take alot longer. The leaders and ruling party of most countries with nationalized oil just steal the money and use it to suppress any dissent, they throw a few bones to the masses, like 30 cents a gallon gas but very few people can buy anything to burn it in.
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Today's Featured Article - A Question for Dads This recent topic from the Tractor Talk discussion board is being highlighted because it is an awesome display of the caliber of individuals that have made this site their own. The young person asking questions received positive feedback and advice from total strangers who "told it like it is" with the care many reserve for their own kids. The advice is timeless... so although it isn't necessarily antique tractor related, it will be prominently displayed in our archives to honor those who have the courage to ask and those who have the courage to respond in an honest, positive manner.
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