Ben Stein’s recent post on Yahoo Finance hits the mark…IMHO!
Yes, America’s oil companies, besieged by foreign dictators, attacked endlessly in the media, mocked and belittled in the academic world, are vital to the survival of this country. Just try to imagine America without oil — we’d be embroiled in “Mad Max”-style chaos within a week. We would be living in complete anarchy.
Instead, we have a rich, advanced nation where the whole society and its progress float on liberally supplied, bargain-priced petroleum. And, like surly teenagers who hate their parents because they’re totally dependent on them, we respond by hating the oil companies.
This is a sure way to commit national suicide. The oil companies aren’t run by rich conspirators out of some Oliver Stone movie. They’re not monopolists illegally fixing prices the way Rockefeller did more than a century ago. They’re owned by people like us, employing people like us, saving the rear ends of people like us.
I think it’s summed up best in the next paragraph:
If they’re making a legal product that we can’t live without in a legal way and selling it at a legal price, let’s lay the heck off of them and let them do their jobs. If you think the oil companies make too much money for their stockholders, then buy their stock for your retirement.