America produces enough oil to meet its needs, so why do we import crude?

Re:America produces enough oil to meet its needs, so why do ... by LordDragonfang on Tuesday March 08, 2022 @02:47PM (#30605628)

>Unfortunately Wall Street is notorious for its emphasis on the short term -- and that has next to nothing to do with politics.

While it may not originate from politicians, politics and corporate short-sightedness have been so tightly coupled since at least the Reagan admin that distinguishing the two is arguably missing the forest for the trees.

But yes, the root problem is the people controlling the levers of Capital for short-sighted greed, as is often the case.

[ Parent | on HN ]

Re:America produces enough oil to meet its needs, so why do ... by stjohnswarts on Tuesday March 08, 2022 @04:13PM (#30607048)

Crony capitalism and current US politics are deeply rooted into each other and feed and nourish one another.

[ Parent | on HN ]

Re:America produces enough oil to meet its needs, so why do ... by LordDragonfang on Tuesday March 08, 2022 @05:13PM (#30607940)

Blaming "crony" capitalism implies the issue is too much regulation, not too little. Since I'm asserting that most of the issues stem from the period of deregulation following Reagan, that's clearly at very different conclusion.

Short-sighted pursuit of profit is a failure mode inherent in capitalism in general, no cronyism required.

[ Parent | on HN ]