Subsidising the oil companiesJuly 28, 2009 Tim WorstallIdiotarians3 CommentsProfits have more than halved at BP as the company continues to suffer from the weak oil price and falling demand for energy. Little question for all those screaming that we should impose a windfall tax on the oil companies. Now that profits are falling, should we subsidise them? previousAdvice to The QueennextThat military coup in Honduras 3 thoughts on “Subsidising the oil companies” Ian B July 28, 2009 at 11:20 am Surprisingly, the answer is yes. If they got into serious trouble, they’d be Too Big To Fail… and the state would bail them out. The key thing to remember about anglo-statists (“progressives”) is they don’t want to get rid of the Big Corporations. They just want them under state control and fulfilling a social role. If they earn too much money, the state takes it for socially just spending. If they get into trouble, the state subsidises them. That’s how progressive corporatism works. Kit July 28, 2009 at 1:17 pm “progressive corporatism” = “fascism” The Great Simpleton July 28, 2009 at 1:22 pm Wasn’t that supposed to be the model for nationalised industries as well? In the 70’s they took all the money out of what we now call BT, but when it came to replacing the rackety old Strwoger and Crossbar exchanges at the end of the decade the economy was in such a mess that we couldn’t afford it. Hence the Tories’ move to denationalisation. Leave a Reply Cancel replyYour email address will not be published. Required fields are marked *Comment Name * Email * Website Save my name, email, and website in this browser for the next time I comment.