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Green Group Urges Nationalization of Oil and Gas Industry Amid Coronavirus Outbreak and Economic Upheaval

And how, Mr. Carson, do you propose to accomplish your objectives? The ballot? Demonstrations? Petitions? Guerilla warfare? How? Please be specific.

Let me pose this question. I have been in favor of government control because of pricing snafus over the years. But now I begin to question what it would be like to have a trump-like person in charge of drugs, energy and food.

What about W, Cheney, Rumsfeld, what about Reagan while you’re there?

Statoil is majority owned by the Government of Norway. Norway allows foreign Companies to pump oil from its offshore reserves but those Corporations do so with Statoil competing with them. 67 percent of all shares in Statoil are owned by the Government.

Norway keeps 72 percent of all oil revenues for the people of Norway in the way of royalties taxes and the like. For Comparison Texas and Alaska keep some 25 percent each in sum total. Alberta used to keep around 44 percent but that has dropped dramatically as they were pressured into doing so in order to make the tarsands economically viable (it around 5 percent of tarsand oil revenues now going to the people of Alberta)

Norway has 1+ trillion in its trust fund wherein oil revenues were put into that wealth fund.
Alberta has about 18 billion.
Texas I am not sure of but it smaller then is Alaska’s
Alaska has about 30 billion in their fund.

Alaska , Texas and Alberta have all pumped out more oil in total then has Norway.

Norway now has 1.2 trillion dollars on hand for a population under 5 million which can be used to help it transition to Green energy and to get it through the economic downturn the pandemic causes.

Alberta. Alaska and Texas are going to be begging for money.

The difference between the ideology of a Norway as compared to Texas , Alberta and Alaska is this. The people of Norway believe its resources are owned in common there to benefit the people of Norway as a group. The ideology of the other three jurisdictions is that as much of the revenues from those resources as possible is to go to the investor class and those “investors” will then share that wealth in the way of wages. We can see how that worked out. (it basically the screed of the Chicago school of economics and that Von Mises crowd that shows up here)

State ownership makes all the sense in the world.

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Utility, utility, utility, utility.
By golly if you say it often enough it busts through to its full breadth of meaning as BOTH verb and noun. Dang, in a crisis ‘utilitarian’ has a ring as clear as a bell. Means EVERYONE can UTILIZE the means to PRODUCE WHAT IS NEEDED!

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Hi Greenwich:
In reading about Lincoln, there was a time when the men( yeah, no women voters yet,) gathered and had to declare their choice out loud in a room full of others. That’s probably the cleanest kind of political race ever. Wouldn’t that be wonderful with voices choosing as opposed to those things like suspect computers : )

Can’t the oil & gas industry pull itself up by it’s own bootstraps? Aren’t they rugged free marketeers?

They seem a lot like a person whose down and out because of too much gambling who’s at the government welfare office getting more money so he can get back to the casino.

Pretty pathetic and should get a bit no unless they agree to a strict set of rules backed up by severe consequences such as time in some of the roughest jails in the country.

But then again it’s an industry that’s in its’ death throes anyway so just nationalize it and guide the energy industry towards renewables.

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Nationalization of the energy sector is a terrible and insane idea regardless if you are a capitalist or an environmentalist. I will argue the environmentalist side since this is a socialist site. The facet that government is worst at is pruning itself. Once something is a government function it one never goes away and two gets ever less efficient. The reason for item one is now it is in the governments interest for that function to stay around forever. The budget and the employees plus what it does is power. The 2nd problem is government is never really good at doing something more efficiently. It can always budget more money or raise the cost.

The reality is if you want to see the US domestic oil industry tank, is to do nothing. Even before the COVID-19 event we were on the verge of oversupply. Saudi Arabia and the rest of the Persian Gulf have made a conclusion that they are unable to control price by dropping supply. As the low cost producers at roughly 8-10 dollars a barrel the new strategy is to produce as much oil as possible. They can play the games of BKing US oil shale. But they know as soon as they start squeezing supply, oil shale will come online again. My opinion is this is a long term play. You will have cheap oil for years.

So if you are a good greenie socialist the best move is to do nothing. Now there will be a world of cheap oil which you might not like. But that is another question.

Hallelujah! it’s about time people started to demand this! Our next milestone may be when it appears in corporate media and is taken seriously. We may have to wait until we start the revolution for that, though.
“We’re a country not based on nationalizing our business.”
He might as well have said
“We’re a country not based on paying workers enough to keep them from dying from lack of health care.” It would amount to the same thing, and at least it would be true.

Sorry, but the overwhelming trend all over the world is privatization–taking things away from government and turning it over to the much less efficient and far more destructive corporate sector.

Letting the fossil fuel industry continue is obviously unacceptable; we have to shut at least 90% of it down over the next 10 years or less if we want to have any reasonable chance at avoiding the end of civilization and most life on Earth.

Letting any part of it tank will lead to phenomenal destruction economically, ecologically, politically, and psychologically. The corporate owners will walk away rich from the ruins of the industry and leave it to kill people and be cleaned up–or not–by the public.

This is not by any means a socialist, or even democratic socialist site. It only looks that way from the fact-resistant bunker of the extreme right wing.

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Danish Oil and Natural Gas, Dansk Olie og Naturgas A/S, abandoned both oil and gas and its unfortunate acronym 3 years ago but is still 50.1% owned by the Danish government. It’s now Ørsted, biggest offshore wind corporation in world, (16% share). (Does it onshore, too, and with solar, CHP, and biomass.) It co-owns offshore installer A2SEA with Siemens (aka Siemens-Gamesa, now a Spanish corporation; kind of an incestuous world out there on the bonnie main.)

Ørsted’s been with some of the most important offshore wind farms—a succession of the largest in the world like Walney, Hornsea I and II, Vindeby, and others off Denmark, Germany, Netherlands, UK, Taiwan, Canada, New Jersey, Massachusetts—7½ GW in all (up from 3 GW in 5 years). And in 2018 its more than 1000 turbines pumped out 10 TWh. It’s been voted the most sustainable corporation in the world. And the prettiest.
ttps://orsted.com/en/Our-business/Offshore-wind/Our-offshore-wind-capabilities
ttps://www.cnbc.com/2017/09/08/the-worlds-first-ever-offshore-wind-farm-has-been-dismantled-and-its-parts-recycled.html

ttps://www.theguardian.com/environment/2018/sep/06/worlds-largest-offshore-windfarm-opens-cumbrian-coast-walney-extension-brexit

ttps://cleantechnica.com/2016/10/25/dong-energy-surpasses-1000-wind-turbines-installed-sea/

The power of public ownership!

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Yes, they are—until they need the taxpayers to bail them out of the occasional bear market.

Yeah, scary shit to be in bed with a fascist at the time of plague. Better unite behind the opposition. No more Democrat bashing. We have a golden opportunity right now while GOP senators are self-quarantining to pass real progressive legislation and I think Pelosi is trying to do that but with her own party members and the “independent” Bernie Bros-like element shitting on her at every opportunity, we may lose this opportunity.

Support Nancy Pelosi’s efforts to pass progressive legislation while the GOP senators are self-quarantining. Go on Fox News message boards and You Tube, where the viewership is much higher than CD, where Pelosi and Schumer are losing the propaganda war to corporate evil, and spread the word: WE NEED A PROGRESSIVE BAILOUT NOT A CORPORATE BAILOUT!

Why pay taxpayers’ money to buy out the oil and gas industry when our objective has to be to pretty well shut it down? Have people forgotten climate change?