How would a Government run Oil Company work?

Liberal Democrat Maxine Waters said she wants to socialize oil companies and it sounds like Liberals love the idea. How do you think it will work out?How would a Government run Oil Company work?
I think neither oil nor food nor health care should be a commodity.How would a Government run Oil Company work?
As long as liberals are in charge, I think it would work very well, thank you very much. It's the conservatives who privatize everything from prisons to schools to disaster relief that I most worry about. Can you imagine for-profit prisons, where the prison gets paid more if they decide you have misbehaved?





Governments do a good job of running utilities for lower costs. I have no doubt that when the profits are removed, the cost of fuel will be lower. I'm not going to cry for oil company stock holders. They certainly haven't cared about poor folks who cannot afford to pay their heating bills.
Did she not say nationalize or am I getting her confused with another liberal? If we did that we would no longer be a democratic/capitalist government. I remind everybody of what Putin did to the Russian oil company Yukos oil co in 2004. The takeover if that is what you want to call it was disgraceful on a Nato level. Mikhail Khodorkovsky built the company from the ground up to international standards only to be taken over on chumped up charges of tax evasion. The worst part is that for the rest of his life he will sit in jail watching his company be socialized. If that is what you mean I would say no it wouldn't work at all. Not to mention, where would it stop. How many rights are you willing to give up.
Government attempts to control business have never worked, the Soviets learned that the hard way, and the Chinese took the hint. While retaining Totalitarian government they have ceded control of the businesses to the businessmen. True National success in the 21st century looks to be about finding a balance between maintaining the framework for social structure, such a roads, rail, law enforcement, and health care, the concerns of Government, and allowing economic competition within that structure to provide economic growth, technological innovation, and a stable present in which to plan for the future, the concerns of the private sector. Placing either one too far above the other has, Historically, never worked in the long term.
Not that its even an option because other countries own the oil but I would say that they would run it about as well as they run the current healthcare system, our SSN money, and paying down their debts (the deficit).





Why would they run this better than what they have demonstrated in the past.





If government wanted to help us, the American citizen why don't they take their .50 cent tax off it?





How about this. All cars made by GM since the 90s can run on ethanol. Why not deregulate the production of ethanol so that individuals can start mass producing it. Once started larger companies buy them out and make it even cheaper.





An individual can make it in their backyard for as little as .40cents a gallon. It is also cleaner and makes more horsepower. once deregulated you will see this at every gas station within 30 days.





ianb - You realize Venezuela is an oil producing country and part of the problem?
It would be full of abuse with no oversight, at least with private companies in charge the Government can make sure there is no abuse, Like Saddam Hussien didn't pocket most of the money or Hugo Chavez, You think the Saudis distribute the Oil wealth fairly








edit you guys are pretty vicious in Politics today, did your dog get run over
Well, if we used Petroleos de Venezuela as an example, run by the lefts newest darling, the simian dictator known as Hugo Chavez, I can truthfully answer, not very well.
Look at other countries with socialized oil -- Mexico, etc. We currently have some of the cheapest gas and oil prices in the world, even with the price increases.
If it works for Venezuela, it should work here. Did you know that the price Venezuelans pay for a gallon of gas is roughly the price of a Big Mac (not the package meal)? Under $2?
Same way it does everywhere else. The government, and thus the people reap all the profits, and all the oil drilled here can be sold here reducing the price.
Interesting question, since we already know how an oil-company run government works: Bush.
Very well for Norway, Iceland, Finland, Mexico, etc.
Ask the constituents of Chavez they are losing money.
Ask the Venezulans how that is working for them.
Hugo Chavez imposed such a regime in Venezuala, to disasterous results
Not very well if it's a woman's idea. Now if she'd suggested she get cooking and cleaning, THAT would have worked :)
Its Going To Be Different For Sure.
when the gate sweeks they would oil it
Ask Haliburton, they seem to be doing it well enough
Just like Russia
I don't know
well, 30% more of my money would go toward taxes on gas!!!