I am, I admit, a paleocapitalist and (mostly a) paleoconservative. That said, I do not think oil company executives – or any other corporate executives – should have to defend their company’s profits, unless illegally gained. For that reason, this meddling strikes me as ridiculous. Lest we forget, oil is among the most volatile and fragile commodities markets, and one in which extremely large players necessarily dominate (at least on the transportation and distribution sides, if not necessarily in exploration). Large companies + large demand = large profits + large risks. There is always the risk, if not the certainty, that much of the profits major oil companies set aside today will disappear tomorrow due to actions by OPEC or Chavez, diminishing supply, or some other forces beyond any executive’s control.
Part of living in a capitalist society means accepting this state of affairs as generally good. We allow – even embrace and reward – those who are willing to take risks and build socially productive enterprises, because they reduce inefficiencies in a given market in ways that governments, time and time again, have been proven incapable of doing.
Meeting a demand with a legally obtained supply at a legally determined price the consumer is willing to pay is called being a good business person. That never should require defending one’s rational actions to the government.
Lawrence Harrison has a great essay out on The End of Multiculturalism, in which he argues that multiculturalism is, ironically, both the root of the George W. Bush administration’s foreign policy difficulties and the causes of major crises here at home. Give it a read.
Lou Dobbs has a new whine, titled “Not so smart when it comes to the Middle East.” You don’t really have to read it; basically, Americans are blundering, isolationist idiots, and the current war is all our fault for not subsidizing Lebanon (a.k.a., Western Syria) as heavily as Israel. Enjoy the read, if you can.
Terrorists today detonated bombs at three Western hotels in Amman, Jordan. Details here. This is disturbing; it seems the horror and stupidity of suicide bombing, once unleashed on the world, can never be rebottled. It’s also personally disturbing; I’ve been to two of the three hotels.
I’ve been so busy, I’ve had no time to update this, the past few days. I’ve got major web design projects going on, both at Crusade and at Topsail, and I’m just really looking to keep up.
Thought of the day: freedom is a beautiful thing.
Two stories that need to be shared with the world:
My parents were talking to some folks at a truck stop on their trip to Nashville this weekend and met a guy whose wife hit a deer with her car. Nothing unusual about that – except that she backed over it.
Secondly, apparently my sister once went vole hunting. Yes, “vole hunting.” I have no clue why – something to do with a girls’ science club back in middle school. I just think it’s hilarious to think of a bunch of middle schoolers rampaging through the yard of some NCSU professor, flipping over stones, trying to find voles.