Good Morning, Joe.
The bulk of the economic situation in the U.S. can be reduced to one major problem: Here is a sneak preview of a column I wrote that will appear in several regional newspapers in a few days (published at my website right now).
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Energy Privatization, or, Congress Takes a 35 Year Vacation
I know, privatization, yet another concept to worry about. Enough already. But this is the most serious financial problem facing the U.S.
Our Leaders have placed private corporations in control of immensely important sectors of our economy. They put far too much hope in milking human kindness out of Corporate America. Too many companies are dedicated to, focused on and religiously inclined towards one thing only--profits.
Corporations will almost always out-clever our casual Congress. Unless and until our government initiates concerted efforts in reversing their astonishingly naive policy of privatization, the United States will remain in a grinding, ugly decline.
Energy is a good place to start.
Our need for energy independence first surfaced in the 70’s. Those of us who lived through those times remember odd/even gas purchase days, long lines of cars, fights in those lines, people stealing gas, and most of all, promises.
Did we hear promises from our leaders, or what? Never again would they let us get into that fix. They would launch a war for energy independence, loudly proclaiming how they would teach those Middle East evil-doers a thing or two.
So what did Congress do? They privatized our energy war--our most serious problem--by turning it over to Big Oil.
By the way, don’t focus on Republicans here, or Democrats, Independents, Conservatives or Liberals. Those labels just make us angry and divert us. Big oil was deputized by a majority of Congress, just before they set sail on a 35 year vacation from the problem.
Right before leaving on their cruise (their party theme being “What, Me Worry?”), Congress left some instructions with Big Oil: Pay attention to solar solutions; geothermal is a free and wonderful source; ocean wave movement can be harnessed; oh, and don’t forget wind--talk about a good deal; and, of course, nuclear must be a major part of the mix; find more of our own oil; and follow those clever Japanese by designing and promoting smaller, more efficient cars.
But, alas, one day after Congress disappeared, Big Oil decided they had a much better idea for all 250 million of us; a much simpler idea--no real thought, planning or vision required. They would steer our economy into needing more oil, then promote more oil, refine more oil, sell more oil, use lots more oil, and finally, just raise the pump price on more oil.
So they did, because they could. Nobody was watching. Hey, running a country for profit can be fun.
Now, Congress, looking rested and tan from their long and leisurely voyage, returned to the U.S. sometime in mid 2007. Driving home from their ports of entry, all 500 of our leaders were greeted with the sight of wall to wall SUVs. And there were no new nuclear plants, no windmills to be seen, only three fuel-efficient cars between Dallas and Duluth. And where were all the planned solar panels?
Something had gone drastically wrong. It was scary, here the U.S. was in the most serious financial trouble in the history of the Country but Big Oil had sent a ship-to shore message saying all was ok.
Congress was baffled, if they can’t privatize Big Oil, who can they privatize?
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Ladies and Gentleman, obviously, that was tongue in cheek. Of course there were members of Congress who tried to do the right thing with energy. And some realize that privatizing sectors like health care, energy, defense and wars is bad business for a country.
But, Congress as a whole went along with the privatization of critically important sectors of our economy. They let the giant fox, Corporate America, into the hen house, where it continues to engorge itself. The decline of the U.S. economy will not be reversed unless this situation is reversed.
