What is the future of a country where some politician plans to takeover the oil industry? Last month, one California Democrat stated that many Democrats were thinking that the oil industry should be nationalized. Many call it as a socializing act, but will it really help the country or it is an alarm for all the trouble that US may face in subsequent years?
According to Rep. Maxine Waters, "This liberal will be all about socializing... would be about... basically taking over and the government running all of your companies." He conveyed this to oil executives on May 22 at the time of congressional hearing.
No matter what we call it - nationalizing or socializing, but the consequences are same. No country could flourish after nationalizing its oil operations till date. If we did not learn anything from other countries, Venezuela, Bolivia, Iran, and Mexico are perfect examples to follow. All these countries nationalized their oil operations long back and suffered a lot. Their economy was so affected due to this decision that they could never achieve a good economic status after it. They do not expect much from their economy even today as government continues to control the oil operations till now.
It is not just Sen. Hillary Clinton who seeks to threaten the oil industry, another Democrat - Kanjorski also thinks himself as quite smart when it comes to economy matters. He strongly believes that by socializing the oil operation will inspire the government to keep the oil prices low. No matter what they think of US economy, with such a decision, which follows the same path of disaster that many other countries once followed, the future of our country seems bleak now.
This decision seems to be much about profit of political projects rather than help of the country.
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