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The price of oil dropped below zero, prompting new subsidies from the Federal Reserve. Progressive voices in the U.S. and Canada have a different idea: nationalization as a way to wind down the sector, tackle the climate crisis and create a just economic transition.
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If this keeps up oil companies will start losing wells and at that point the government is responsible for plugging wells witch can cost up to a million dollars a well this going to have a great impact on oil prices if oil companies don’t run there wells for over 30 days they can lose them
Hello ev charging
So nationalize the cleanup? They need to be shut down permanently the executives + shareholders need to clean up the mess. There needs to be a $10 per gallon tax on gasoline and other oil based products to keep the production down to where it is now.
Venezuela has a state owned oil industry…..look how that turned out. This "report" is nothing more than a Liberal socialist propaganda feed….government has no place in private industry.
This could mean a move towards Keynesian or even Stalinist / Nazi economics.
Capitalist begging for Socialism as long as it is not Socialism for the Poor and Working Classes. It is amazing that the Public stands by and keeps quiet while they are being fleeced.
The Rich Should Pay For It, of course they should, after all they were the major beneficiaries of profits.
If we nationalize oil we are no better then Venezuela
Gas prices are rising again.
The Oil people did this to themselves out of GREED. They kept drilling for MORE and they FOUND ways to use all the oil. This was bad for the people and REALLY bad for the planet.
This is NOT NEW, this kind of thing has happened throughout history. GREED and CAPITALISM is the reason for every depression and recession. Capitalism is SOOOOO bad that we can NOT even make it through a VIRUS outbreak without tanking our economy. Wake up people, this is NOT ROCKET SCIENCE!!!!!!!!!!
Don't you think that a nation that claims to be number one should be able to survive nicely for six months to a year in a shutdown while helping the working people????
Alberta has the strictest flaring laws in the world and the US has no rules so please dont compare.!
Welcome to Venezuela.
Fuel prices are rising again, and they are complaining about profits?
GET REAL.
Next is to nationalize water supplies… we can’t have people doing whatever they want with such precious resources, it’s a recipe for disasters.
Good luck
I expect business as usual especially under the fog of war of the next Great Depression
What a joke.
We need to get off fossil fuels and plastics, yesterday. This planet will be uninhabitable otherwise. Let them go bankrupt. No bailouts, no tax breaks, no quarter.
This video was actually pretty informative.
Don't take the buy out, say no to loans from the banks and sell "everything "to "somebody" for "nothing" and then "file bankruptcy". Then all the banks will go broke and we the people can recover and the Evil empire will fall. What an interesting idea!
Right now the fossil fuel industry owns the government,you could nationalize it but it would be under the cobtrol of the people anymore than it ever was because the the oil corporations already ARE the government (think Rex Tillerson as Secretary of State)…