Until they run into trouble, corporations love to tout, and practice, free market capitalism, preferably completely unregulated.
By Wim Laven, LA Progressive
I come from oil country, so does House Minority leader Kevin McCarthy. My hometown—Bakersfield, in Kern County CA—Kern County was once the top producer and has been a top three oil-producing county in the US as recently as 2014.
Both of us know he is lying when he blames: “These are President Biden’s prices.”
Petro Online, an oil industry news source, reports that on average it takes a month for oil to get pumped from the ground to complete the refining process (if it does not become part of reserves). I remember working on oil production equipment on September 11th when my boss said, “you better fill up before the prices go up.” They did.
On the House floor McCarthy says, “Democrats want to blame surging prices on Russia. But the truth is, their out-of-touch policies are why we are here in the first place.”
In reality, it’s simply laissez-faire piratical opportunism.
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