No, that's just a gross exaggeration.
Though, I must disagree with Foghorn and the folks on here.
A country based on libertarianism is exactly what we have now...
Though, when companies and businesses are unrestricted, the first thing any successful large company will do to ensure its survival is to influence the governing body that makes the laws which restrict business.
Then, they push through laws which prohibit competing industries from accessing valuable resources in order to keep it all for themselves. They then subsidized their products so as to make it omnipresent to the American consumer. And, from there, the interests of those industries are presented as synonymous with the well-being of the entire nation. And, that my friends, is how libertarianism had allowed for the oil industry to become so entrenched in American politics.
As nice as the system sounds, it's about as realistic in practice as nationwide Communism.
Both systems are ideals which are never, ever going to function in the real world.