"This liberal will be all about socializing, uh, uh . . . would be about . . . basically taking over and the government running all of your companies," Rep. Maxine Waters told oil executives on May 22 during yet another show-trial congressional hearing.
Socializing, nationalizing — the term doesn't matter. But the result is the same. Oil industry takeovers are disastrous. Does Waters really want the U.S. to go the way of Venezuela, Iran, Bolivia or Mexico? Those nations that have nationalized their domestic oil operations and have suffered economically because of it.
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