Hey, I’m all in favor of separating oil and state. But that means no strategic oil reserves; no taxes, including carbon taxes; no cap-and-trade; no regulations; no moratoriums or bans on offshore or other drilling; no special protections of any kind, including caps on liability for actual damages to private property caused by oil companies;1 no eminent domain (ab)use; and no mercantilistic and imperialistic wars to make the world safe for domestic consumption of foreign oil. But somehow I don’t expect all of this is what the Greenpeace activists confusedly mean by “separate oil and state.” Alas and alack.
Cross-posted at The Libertarian Standard.
- I’m not talking about limited liability for shareholders here. I’m referring to caps like the $75 million liability cap that has received so much attention in the wake of the BP oil spill, enacted in 1990 as part of the Oil Pollution Act following the Exxon Valdez spill. [↩]