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 - Tractor Implements and Their Use - by Curtis Von Fange. Dad was raised during the depression years of the thirties. As a kid he worked part time on a farm in Kansas doing many of the manual chores. Some of the more successful farmers of that day had a new time saving device called a tractor. It increased the farm productivity and, in general, made life easier because more work could be done with this 'mechanical beast'. My dad dreamed that some day he would have his own tractor with every implement he could get. When he reached his early sixties
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