How Big Oil could grease invisible hand

The U.S. energy problem is very much due to a breakdown of the free market, contends the new documentary, “Pump.” Married co-directors Josh Tickell and Rebecca Harrell Tickell show how Big Oil’s monopoly on transportation fuels hurts Americans more than they realize. If drivers had options when filling up their tanks, both country and consumers would benefit.

Read more at: Reuters [Blog]

 

 

Movie review: Documentary ‘Pump’ slams Big Oil, but offers solutions, too

Salt Lake Tribune
The film starts with a history of the American automobile and the parallel growth of the oil industry, focusing on how Big Oil conspired to eliminate any alternatives, like electric trolley cars and alcohol for fuel. Then the movie (narrated by Jason Bateman) details how America’s oil consumption grew just as the supply became largely controlled by other countries, and how China is rapidly growing as an oil consumer.

 

 

“How the U.S. Can Break OPEC” by John Hofmeister

Wall Street Journal
The U.S. and global economy has been all but crushed by the cartel pricing power of OPEC) for far too long. Worse than a consumption tax, high oil prices, because of our current dependence on internal combustion and compression engines using oil products, have been a burden for decades. The perpetrators of the cartel force U.S. and global consumers to pay not only for oil but for the costs of social welfare, such as it is, infrastructure and military capability in their respective countries.