Wealth Xfer

Once again, it's good when private cos. do it, bad when gov'ts. do it, even when it's done by representative democratic republics. But what's the glibertarian/wingnut view when it's entire nations grabbing it from other nations? Is the oil-addicted nation actually to blame for making the "wrong choice?" A WaPo article brings these questions to mind. Here are the highlights for nihilists:

High oil prices are fueling one of the biggest transfers of wealth in history. Oil consumers are paying $4 billion to $5 billion more for crude oil every day than they did just five years ago, pumping more than $2 trillion into the coffers of oil companies and oil-producing nations this year alone.
[...]
"There's never been anything like this on a sustained basis the way we've seen the last couple of years," said Kenneth Rogoff, a Harvard University economics professor and former chief economist at the International Monetary Fund. Oil prices "are not spiking; they're just rising," he added.
[...]
Britain's national average gasoline price topped 1 pound per liter, or about $8 a gallon, for the first time this week because of record oil prices.
[...]
But new oil wealth can trickle away even more easily than it comes. Last month, Standard & Poor's downgraded Kazakhstan's credit rating after the country's banks lost billions on purchases of subprime mortgages.

That's right, soon you'll be paying through the nose for the privilege of stewing in your own waste, as the financial house of cards falls around you. And while the technical term is house of cards, that's not pasteboard, it's bricks & other hard heavy stuff that'll be falling on your head, while your nether regions are being boiled away.