Bolivian President Evo Morales seized control of the country’s natural gas industry Monday, sending soldiers to occupy fields that he contends private companies have plundered for years.
Morales said that unless foreign energy firms agreed to give Bolivia’s state oil company oversight of production and a majority of their revenue generated in Bolivia, the government would evict them from the fields.
A good start on solving the growing oil crisis here in the U.S. would be nationalizing the oil companies, then selling the gas and oil at only enough to make a modest profit and for energy research. Yes, centralized planning can accomplish what private enterprise refuses to do, provide energy at a reasonable price for all, not just making a tiny few even wealthier.
True, the U.S. energy problem is not solely due to a greedy few. But eliminating their plunder is crucial to the process of reform.