Nationalize Big Oil!?!?!?! The Transcript

My new hero, John Hoffmeister, the soon to retire head of Shell Oil in the U.S. tells it like it is. Maxine Water responds with a little Hugo Chavez action:

From congressional testimony on 5/22/08:

Here is the transcript of the exchange in Congress with Rep. Waters:

John Hoffmeister from Shell Oil: I can guarantee to the American people because of the inaction of the United States Congress ever increasing prices unless the demand comes down and the five dollars will look like a very low price in the years to come if we are prohibited from finding new reserves and new opportunities to increase supplies.

Rep. Maxine Waters: And, guess what this liberal will be all about? This liberal will be about socializing... uh, will be about, basically taking over and the government running all of your companies.

The oil executives answered: "We've seen this movie before. It's called Hugo Chavez in Venezuela."