Comments

nora's picture
nora 21 weeks 6 days ago
#1

Of course they do.

The meme of oil "depletion" was necessary to force the government to give the Oil Industrialist their DEPLETION ALLOWANCE indefinitely.

Indeed, the biggest problem the Oil Industrialists ever had was price fixing at a level of profit they desired.

Early on there was so much oil development, the price crashed. That's when the Big Boys squeezed out the smaller producers and consolidated and monopolized so they could set the profiteering value they desired. In order to prevent new players from entering the industry -- for example, that's when Prescott Bush sent George H.W. Bush into Texas to buy up resource/drilling rights to the land of unsuspecting property owners all over Texas; this is a step necessary for the BIG BOYS to corner the market.

Add comment

Login or register to post comments

Currently Chatting

Community Archive

The GOP war on workers has killed again...

It’s time to stop the conservative's war on working people in America.

Since the birth of our nation, conservatives have always been wary of average working-class Americans having too much political or economic power. John Adams, the second President of the United States and a Federalist (precursor to today’s Republicans), was very wary of the working class, which he referred to as “the rabble.”