Mike Whitney says the USA should follow Venezuela and Bolivia's examples and Take Back the Oil Companies:
Nationalizing the oil industry should be the central tenet of any progressive political movement. Evidence of the industry’s involvement in the invasion of Iraq as well as its obvious complicity in corrupting the political system should provide ample proof that the oil giants are a clear and present danger to democracy and need to be put under state control.
In an era of oil scarcity we no longer have the luxury of allowing a handful of corporate plutocrats to decide the fate of the global economy...
We are facing a future of diminishing supplies and growing demands. We can either cooperate on a national and international level; creating the appropriate institutions for fair distribution, or follow the “Bush model” of military intervention and unrelenting turmoil.