This NYT article feels like the left jab. The uppercut that sends us to the canvas is going to be finding out that taxpayers must urgently subsidize Exxon and underwrite their profits, or risk economic CALAMITY!
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Global Oil now the next “too big to fail” ?
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It does make sense in a way to protect the oil industry on national security grounds up to a certain point. The oil glut is our best weapon against our oil-producing adversaries, ISIS and Russia.
But if we are to bail out oil, let it be funded by a tax on gas guzzling cars and trucks, windfall airline profits, etc.
If they need a bailout then the entire industry requires nationalization.
Talk of a bailout is already starting. And being pushed by the investor class that is facing the losses from an overleveraged industry.
There is no need for a bailout don’t be too stupid. Big oil laughs at liberals
BoA never got a bailout before it did.