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A comment on America produces enough oil to meet its needs, so why do we import crude?. Parent comment

Re:America produces enough oil to meet its needs, so why do ... by not2b on Tuesday March 08, 2022 @03:47PM (#30606656)
Counterexample: WW2, where most of US industrial capacity was repurposed to win the war. Producers got paid, but the amounts they got were limited. They didn't get to just name their price.
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Re:America produces enough oil to meet its needs, so why do ... by cryptonector on Tuesday March 08, 2022 @04:04PM (#30606931)
They got paid more than their input costs. None were forced to go bankrupt, and most made a profit.
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Re:America produces enough oil to meet its needs, so why do ... by not2b on Tuesday March 08, 2022 @07:28PM (#30609418)
Right, and in times where price controls were imposed this principle (you can't force people to operate at a loss, but you can limit price gouging) have been applied.
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