Wednesday, July 1, 2009

Oligarchs Train Democratic Governments

Two government bids for highly attractive investment areas, oil field service and toll road infrastructure, met with little response from huge oligarchs. How will the government react to their failure to bid? Will they conduct a "make or buy" assessment, considering not contracting out the service? Hardly, not with the religion that "government can't do anything competently."

The projects will be rebid, making things more attractive for the infallible private sector, literally a handful of energy and private equity oligarchs. CBS News reported:

Chevron Corp., the second-largest U.S. oil company behind Exxon Mobil Corp., said it decided not to submit a bid in the opening round, but didn't rule out doing so in future auctions.

It said it opted out after a "careful evaluation of the opportunities against Chevron's standard investment criteria and our inventory of investment projects worldwide."

It's the big money boys way of training the government. Sit and beg...