It would be hard to invent a more destructive ritual of national self-punishment. Year after year, we hand oil companies gigantic tracts of pristine land. They skin them of entire ecosystems. They vacuum billions of dollars out of the country. Their oversized power, sunk into lobbying and litigation, upends government law-making… The experience is forcing a reckoning with an economic myth that has gripped global politics for the last thirty years: that private companies better serve our needs than public institutions. In fact, private utility and oil companies – like all large corporations – are legally designed to look after only a single need: the maximization of their profits. What do you think about nationalizing energy?
Posted on: Wed, 31 Dec 2014 20:00:00 +0000
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