As I was listening to a story on BBC World Service about Venezuela nationalizing oil production (seizing the private facilities by force if necessary), I couldn’t help but think of Wyatt’s Torch in the novel Atlas Shrugged by Ayn Rand. Ellis Wyatt developed a new process for shale oil production, which revitalized the Colorado economy, but the politicians and unions imposed protectionist measures on the railroads that made it impossible for Wyatt to sell his production. Rather than allow his oil fields to be nationalized, he set them ablaze and vanished.
Venezuela nationalizing oil production
As I was listening to a story on BBC World Service about Venezuela nationalizing oil production (seizing the private facilities by force if necessary), I couldn’t help but think of Wyatt’s Torch in the novel Atlas Shrugged by Ayn Rand. Ellis Wyatt developed a new process for shale oil production, which revitalized the Colorado economy, but the politicians and unions imposed protectionist measures on the railroads that made it impossible for Wyatt to sell his production. Rather than allow his oil fields to be nationalized, he set them ablaze and vanished.