"Oil" is the ultimate political red herring of our times. Oil is a "world" commodity. As soon as we recognize this we can stop being played by politicians and the few who profit from our ignorance. Many nations have greater control of their security and revenue through their national oil companies. The tired old "socialism" threat is the whip that private profiteers use to beat us into submission as they exploit our resources, manipulate our government and weaken our national security.
The Hoover Dam is federally owned and controlled by the Bureau of Reclamation. Electricity from the dam's powerhouse was originally sold pursuant to a 50-year contract, authorized by Congress in 1934, which ran from 1937 to 1987, and paid for construction. Proceeds, much like our turnpike, pay for maintenance. Congress controls water and power allocations from the dam.
The Tennessee Valley Authority's management of the Tennessee River system, without federal funding, saves taxpayers millions of dollars annually. Regional power consumers benefit from lower-cost electricity supplied from TVA's network of 29 power-producing hydropower facilities. TVA also employs 11 coal-powered plants, three nuclear plants with six reactors, and nine combustion-fueled turbine and three gas-fueled plants.
Does anyone believe we should privatize these systems? What would be next -- the Great Lakes and national parks?
Time to step back from our Tea Party libertarian hysteria and think.
Jim Rehlender, Strongsville