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Politics : View from the Center and Left

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To: Cogito who wrote (74679)	7/3/2008 5:27:27 PM
From: TimF	Read Replies (1) of 543573

What I'm saying is that if the private oil companies are so much more efficient than their socialized counterparts, shouldn't they be able to compete effectively in the world oil market? What exactly do you mean by "compete effectively in the world oil market"? If you mean make decent profits in the world oil market, than they DO compete effectively in the world oil market. If you mean "be larger than", or "control my reserves than", or "output more oil than", well the efficiency, while it does help them achieve the 1st definition of "compete effectively", doesn't help them on this one. It doesn't matter how efficient you are if most of the world's oil is off limits to you (not just territory in the countries with nationalized oil industries, but also oil in places where private companies are allowed to bid but where political favoritism gives the contracts to other companies, and also oil in territories that are off limits to drilling, which is quite and extensive area in the US and its territorial waters)

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