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Global energy socialism.(INSIDER REPORT)(Brief article)

The New American

| October 16, 2006 | COPYRIGHT 2006 American Opinion Publishing, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

The world's 13 largest oil and gas firms are either partially or wholly state-owned--meaning that "big oil" is very much a government-dominated industry, from a global perspective.

To judge from the angry mock-populist rhetoric that pours forth every summer, one would assume that the oil industry is an autonomous creature much more powerful than any government that would try to regulate it "in the public interest." Tales and rumors of price-fixing and engineered shortages abound every August as angry motorists absorb seasonal price shocks, prompting demands for concerted government action to break the back of "Big Oil."

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Source: HighBeam Research, Global energy socialism.(INSIDER REPORT)(Brief article)

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