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Friday, April 09, 2010

 
Freudian Slip Du Jour

Watch this video. It isn't long.

The President of Shell Oil is asked whether he can guarantee lower oil prices if the Feds allow increased oil exploration. He says that increased scarcity will guarantee higher prices. Maxine Waters threatens to socialize Big Oil - and then realizes what she just said.

My response to Waters: SINCE WHEN DID SOCIALIZING A GOOD OR SERVICE EVER REDUCE ITS COST? Look at public education. Costs per pupil are much higher than the average private-sector alternative. Socialized health insurance for selected individuals - I mean Medicare - drives up medical costs. Single-payer insurance systems (such as Canada's) and socialized medicine (such as the UK's) ultimately have to resort to rationing. These are the two primary arenas of Western socialism today - and nobody's figured out how to make them cost-effective.

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