Just who you talkin’ bout? Who owns big oil, anyway?

The oil companies are publicly owned. Say Anything notes that 14% of big oil is owned by individual retirement accounts and another 26% by pension funds.

To be clear, I think that “big oil” is every bit as capable of the sort of corporate/government cronyism that is rampant in America. But generally speaking, oil companies provide a product that we all use. They employ a hell of a lot of us, and even more of us are invested in their companies and thus have an interest in their well being.

Childish lashing out at “big oil” isn’t just, well, childish it’s also bad policy.

Diversion is a common tactic. It is a way to avoid facing the result of bans on exploration, rules and regulations that are of dubious value, and taxes and other burdens. It is like Senator Reid using the idea of insurance companies coming between you and your medical care rather than noting that his idea is to put a bureaucrat in that position. You can always go find another insurance company, which as a stake in the game, to seek better service but there is no way you can get around the bureaucrat, who has no stake in whether or not you get decent medical care.

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