Advertisement

Drudge Retort: The Other Side of the News
Sunday, April 26, 2020

The U.S. government is considering taking equity stakes in U.S. energy companies as it seeks to help the nation's oil and gas sector amid the coronavirus outbreak, Treasury Secretary Steven Mnuchin said on Friday.

More

Comments

Admin's note: Participants in this discussion must follow the site's moderation policy. Profanity will be filtered. Abusive conduct is not allowed.

Nationalize the oil, it belongs to the people of the United States. We can hire companies to pump it out for us but we don't need greedy oil billionaires profiting off of our own property.

#1 | Posted by danni at 2020-04-25 10:18 AM | Reply

"But that's socialism?" said no republicans when it is their side suggesting it.

#2 | Posted by schmanch at 2020-04-25 10:34 AM | Reply | Newsworthy 4

Socialism to protect asset prices is an American tradition. We've been doing constantly since 2008,that's all QE is. The whole financial market racket is socialism for "shareholders" to keep the prices up. Now they're moving on to commodities too. Might as well go retail and just make permanent UBI for everyone.

#3 | Posted by Effeteposer at 2020-04-25 11:42 AM | Reply

Just nationalize US oil companiess.

Oil companies don't serve the public, but the public overwhelmingly relies on the cars that keep the oil companies in business.

#4 | Posted by snoofy at 2020-04-25 11:48 AM | Reply

Who needs to work when they can just direct deposit into your account? Production?that's so old school. I want me some UBI. We don't need anyone to actually DO anything that's so 20th century.

#5 | Posted by Effeteposer at 2020-04-25 11:51 AM | Reply

Much of what business is, is just undoing things other businesses did.

Take the doctor treating the patient for all those cheeseburgers McDonald's sold the patient.

Most people's lives are pass-through mechanisms for wealth, often at competing interests.

The economy is not intended to confer any positive benefits on people, but rather to enrich capitalists. Since 1975, practically all the gains in household income have gone to the top 20% of households.

#6 | Posted by snoofy at 2020-04-25 12:10 PM | Reply

Let's eat the rich. Mmmmmmmmmmm tasty.

#7 | Posted by Effeteposer at 2020-04-25 12:21 PM | Reply

"Socialism to protect asset prices is an American tradition"

It's bigger than America.

It's the foundational underpinning of Capitalism.

Limiting personal liability for a person's business decisions is the only way Capitalism works.

It is for this reason -- a government to shield personal liability through the legislature and the courts -- that Capitalism is and will always be a government program.

#8 | Posted by snoofy at 2020-04-25 12:22 PM | Reply

Time to Revolute. No half ass Bernie style revolution. I'm talking about the Real Thing with guillotines and everything.Cool!

#9 | Posted by Effeteposer at 2020-04-25 12:25 PM | Reply

#9 See why it's impossible take you seriously?

Drunk already?

#10 | Posted by snoofy at 2020-04-25 12:31 PM | Reply

Dude are you a robot or something? I seem to have seen that exact reply somewhere else today.
WEAK.

#11 | Posted by Effeteposer at 2020-04-25 12:45 PM | Reply

Considering all the wars we are fighting to keep the black goo flowing they should be nationalized especially since the pigs don't wish to pay taxes... Oh... and don't get me started on oil spills and other environmental disasters. Nationalization should not even be a question.

#12 | Posted by RightisTrite at 2020-04-26 10:02 AM | Reply

Actually if we stop fighting wars for big oil we could lose the need to kill Arabs because we wouldn't need their oil.... or losing the endless wars for profit.

#13 | Posted by RightisTrite at 2020-04-26 10:06 AM | Reply

Socializing losses.

#14 | Posted by fresno500 at 2020-04-26 10:20 AM | Reply

US oil companies equity value is near zero right now. The only thing holding up their stock prices is the hope of a tax payer bailout.

I hope Pelosi blocks that, but the GOP may get the Fed to over pay for shares to bailout their billionaire buddies. Let them burn.

#15 | Posted by bored at 2020-04-26 10:31 AM | Reply

Govt, effectively running businesses better than the private sector, yeah, right; in your dreams.

#16 | Posted by MSgt at 2020-04-26 11:39 AM | Reply

Wait, what!

This sounds suspiciously like the crony-capitalism of Venezuela!

#17 | Posted by Whatsleft at 2020-04-26 11:45 AM | Reply | Newsworthy 1

Govt, effectively running businesses better than the private sector, yeah, right; in your dreams.
#16 | POSTED BYMSGT

"running businesses better"

Better for whom, MSgt?

#18 | Posted by snoofy at 2020-04-26 12:28 PM | Reply

Govt, effectively running businesses better than the private sector, yeah, right; in your dreams.

#16 | Posted by MSgt

And the pandemic is highlighting just how poorly the private sectors runs their businesses.

So poorly they need to immediately turn to the tax payers (the ones they've been shafting for decades) for a bailout.

Why don't you comment on the actual subject, though, instead of avoiding it? The government is talking about buying ownership stakes in energy companies. That's soshulizm, isn't it? Shouldn't you be pissed?

#19 | Posted by jpw at 2020-04-26 12:47 PM | Reply

"Why don't you comment on the actual subject, though, instead of avoiding it?"

You're asking a man who spent his life fighting wars for oil to question why he killed so many people and watched so many of his buddies die, just so the government could give the oil companies a far bigger slice of the pie than he'll ever get.

It's a big ask.

I'd probably avoid it too.

Thoughts and prayers for you, MSgt.
Nothing can be done for you, MSgt.

#20 | Posted by snoofy at 2020-04-26 01:39 PM | Reply

We need sochulism now. Please. I want to join a collective,even though I would probably be seen as subversive by the leaders and eventually purged. Weirdos never get by in a collective environment. Conformity is the best strategy in that type of society.
Those of us with little capacity or desire to conform would be eliminated at the first opportunity. Still, we could get some of that free cash before they took us out.
I guess I'm a leftist,if they'll let me live.

#21 | Posted by Effeteposer at 2020-04-26 03:17 PM | Reply

Govt, effectively running businesses better than the private sector, yeah, right; in your dreams.

#16 | Posted by MSgt

Thats why Medicare has an overhead rate of 2% vs 17% for private health insurance. Because government is so inefficient compared to the private sector.

#22 | Posted by Nixon at 2020-04-27 07:40 AM | Reply

Just nationalize US oil companiess.

#4 | POSTED BY SNOOFY AT 2020-04-25 11:48 AM | FLAG:

Getting stoked yet comrade? You thought I was talking about just seizing ppe supplies. Feds bought a stake in the airlines and have them flying empty planes around thanks to mandatory route use laws. Oil is next on the menu. Trump seems completely competent to be in charge of these industries. It's a brave new socialist era under our glorious orange leader.

#23 | Posted by sitzkrieg at 2020-04-27 01:11 PM | Reply

It's a brave new socialist era under our glorious orange leader.

#23 | POSTED BY SITZKRIEG

The cherry on top will be when he takes all the guns.

Then the GOP will have done all the evil things righties claimed the left was trying to do all along except they'll cheer it because it's the Dear Leader.

#24 | Posted by jpw at 2020-04-27 01:53 PM | Reply

"It's a brave new socialist era under our glorious orange leader."

No, because subsidies and bailouts are not the same thing as nationalizing.
If We The People benefited from corporate welfare, then it wouldn't be called corporate welfare.
You're cute as ever, but that's about all you are getting right. I'm sure you're being this way on purpose, which is fine.

#25 | Posted by snoofy at 2020-04-27 02:04 PM | Reply

Ownership is the road to nationalization. It's a bailout of the people, by the people, for the people. The blue collar workers in the oil industry have been furloughed in mass. There's only so much socialism we can do by filling the strategic reserve to keep. You just want to hit fast forward. You have to slow walk it.

#26 | Posted by sitzkrieg at 2020-04-27 02:12 PM | Reply

How long till we get us some gulags? Can there be gulags too?

#27 | Posted by Effeteposer at 2020-04-27 02:54 PM | Reply

"US oil companies equity value is near zero right now.
#15 | POSTED BY BORED "

Exxon equity value = $180B USD
Chevron equity value = $170B USD
ConocoPhillips equity value = $40B USD

Do you ever stop to do an ounce of research before posting?

#28 | Posted by centerwing at 2020-04-28 02:54 AM | Reply

Take it all. No compensation but the safe escape with their lives.

#29 | Posted by Effeteposer at 2020-04-28 02:59 AM | Reply

Comments are closed for this entry.

Home | Breaking News | Comments | User Blogs | Stats | Back Page | RSS Feed | RSS Spec | DMCA Compliance | Privacy | Copyright 2020 World Readable

Drudge Retort