How we can Nationalize the Oil industry

[ErikJ]

This was an article in the wake of the BP Oil spill.
Now we have Big Oil companies that have the GOP in their pocket so they can get away with price gouging, oil spills and tax evasion.
Its time for the N-word.


For Big Oil, the N-word is "nationalize"
The petroleum companies are ruthless and regulation has failed. Perhaps it is time for radical measures

THURSDAY, MAY 27, 2010 Salon.com

.......but Chris Matthews does. The frustrated "Hardball" host, who is not known as an adversary of corporate power, was probably the first mainstream journalist, but may not be the last, to ask: "Why doesn't the president go in there, nationalize an industry, and get the job done for the people?"

................

Seizing the petroleum companies is not necessarily the only way to achieve public control of oil. The people of the United States own enough petroleum and natural gas on public property to create one of the largest sovereign energy companies in the world, comparable to Mexico's Pemex or Saudi Arabia's Aramco (or on a more hopeful note, Norway's Statoil). This new outfit, perhaps called the Federal Oil Company of the United States, or FOCUS, could set a yardstick for environmental responsibility, worker safety and fair pricing, among other worthy objectives.

http://www.salon.com/news/opinion/joe_conason/2010/05/27/nationalize

[vandelay]

1. Why would you want to?

Seems everything nationalized 1) loses money, 2) has people working for it that you can't ever fire, 3) makes rotten products, 4) is undependable.

Me, I like knowing my gas station is going to have gas and that I an not going to have to drive from one to the other to find one with gas.

[stevenleser]

3. IBTTS

[ErikJ]

4. Whoever said gas stations

That's only a small part of owning an oil company. The national oil co wouldnt even have to have its own gas stations.
They could virtually contract out everything out from finding oil, to drilling etc. That's what Exxon, Chevron does but they use OUR oil and act as middlemen. We could easily do it ourselves.

But if the national oil company DID have its own gas stations like CITGO? (Venezueala's) wouldnt you be happy to know your purchase was going to help pay down the natl debt instead of some billionnaire oligarch's pocket and his GOP crony's pocket?

[vandelay]

2. PEMEX is awash in corruption.

Just google mexico pemex corruption

MEXICO
Pemex Oozes Corruption
By Diego Cevallos

MEXICO CITY, May 7 , 2008 (IPS) - Funds belonging to the Mexican state oil monopoly, Pemex, have paid in recent years for liposuction treatment for the wife of the company’s chief executive, a presidential candidate’s campaign, contracts with firms facing legal action, and the whims of trade union leaders who are not required to account for their expenses.

Taste of results:

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Search Results
MEXICO: Pemex Oozes Corruption - IPS ipsnews.net
May 7, 2008 ... Funds belonging to the Mexican state oil monopoly, Pemex, have paid in recent years for liposuction treatment for the wife of the company's ...
ipsnews.net/news.asp?idnews=42274 - Cached - Similar - Block all ipsnews.net results
Pemex: Mexico and U.S. Energy Scandals
Pemex is like Mexico's judicial system. Corruption is throughout the system; at every conceivable level. How can you catch the bad guys when the bad guys ...
www.mexicomatters.net/mexicousrelations/06_pemexenergyscandalsonbothsidesoftheborder.php - Cached - Similar
PEMEX: Mexico Loses $700 Million Annually to Oil Theft
Aug 31, 2009 ... But the extent of corruption in Mexico—within Pemex, in particular—and the ease with which oil can be stolen from pipelines makes the ...
mexidata.info/id2382.html - Similar
Mexico - Global Integrity
Pemex is the most corrupt situation in Mexico, but the health care system (IMSS and ISSSTE), the national power company (CFE), the Ministry of ...
www.globalintegrity.org/reports/.../country9fe7.html?cc... - Cached - Similar
Pemex oil profits were used in bid to grease political skids
Sep 20, 2003 ... came from Pemex itself. Mr. Fox won anyway, partly by blasting Mexico's ingrained corruption. Over the years, a goodly share of that ...
www.latinamericanstudies.org/mexico/pemex-corruption.htm - Cached
PEMEX executive resigns amid allegations of corruption « Justice ...
Jun 30, 2009 ... Speaking this month in Veracruz, Mexican President Felipe Caldron addressed the issue of corruption in PEMEX in particularly strong language ...
justiceinmexico.org/.../pemex-executive-resigns-amid-allegations-of-corruption/ - Cached
Mexico Probing Alleged Corruption by Pemex Execs - Los Angeles Times
Jan 21, 2002 ... Mexico's organized crime division is investigating charges of money laundering and the embezzlement of more than $11 million by a contingent ...
articles.latimes.com/2002/jan/21/business/fi-mexico21 - Cached
Drugs, Pemex and corruption in Veracruz | Opinion Blog ...
Nov 19, 2010 ... That corruption has never been rooted out. Increasing reports from Mexico indicate that lower-level Pemex officials are working in tandem ...
dallasmorningviewsblog.dallasnews.com › Opinion › Opinion Blog -

[ErikJ]

5. Irrelevant -The whole Mexican government is corrupt

I think Thom Hartmann said Mexico is controlled by 6 very rich families. So I'm sure that effects the oil as well.

[ErikJ]

6. Norway a much better example.

from the article: "............In Norway, where the development of North Sea oil resources has proceeded for decades under direct public control, national ownership has been a great success on every level. The huge profits have been invested wisely, the environmental and safety record in offshore operations has been admirable, and the illicit political power wielded by oil elsewhere has been effectively curbed.

At the moment, the Norwegians are arguing over whether to expand oil development into sensitive areas off their country's northern coast, in light of the Gulf catastrophe. The Socialist Left and Green parties oppose new drilling near scenic Lofoten, while the Labor and Conservative parties mull whether more jobs and revenue are worth the risk. Whatever decision they reach will be the result of an open debate, not a series of payoffs and favors to politicians and regulators."

[Octafish]

7. PEMEX and Poppy Bush did big business.

From House of Bush, House of Saud by Craig Unger.

Of course, Smirko Bush also has his fingers in the dirty oil pie.

PS: Nationalizing Big Oil would be smart policy for the USA.