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 - Harvestin Hay: The Early Years (Part 2) - by Pat Browning. The summer of 1950 was the start of a new era in farming for our family. I was thirteen, and Kathy (my oldest sister) was seven. At this age, I believed tractor farming was the only way, hot stuff -- and given a chance I probably would have used the tractor, Dad's first, a 1936 Model "A" John Deere, to go bring in the cows! And I think Dad was ready for some automation too. And so it was that we acquired a good, used J. I. Case, wire tie hay baler. In addition to a person to drive th
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