[Note: Reposted; this was lost during the Blogger hiccup, and I'd like to keep it on the record.]
“The U.S. government currently hands out $4 billion dollars per year in subsidies” to the most profitable corporations in the history of the planet (1:35 in the clip). Nice.
I’ll say again — “We” (Americans) don’t have domestic oil, because “we” don’t have a nationalized oil industry. “Our oil” is actually their oil: Exxon’s oil, or Shell’s, or Chevron’s. They own it. “We” just give them permission to extract it from the ground.
From there “our oil” goes onto the world market, where “we” bid against everyone else on the planet for the right to own it again.
We give them the store so they can sell it back to us. And don’t let that nice pant-suited lady from the oil advertisements tell you otherwise. Her name is Brooke Alexander, and she’s used to playing con artists; she played one on As The World Turns before her oil industry gig.
(By the way, and apropos of nothing I’ve already said, it will be interesting to see what Sen. Schumer (3:45 in the clip) actually does with that committee of his.)