Oliver Stone wants to nationalize the oil industry. It might not be that bad of an idea, assuming that they actually buy the companies rather than just grab the assets a la leftists elsewhere.
- Gas prices can drop about 10% if the roughly 10% return on sales that oil companies get can be converted into savings at the pump, more like 14% if taxes are taken out of the picture as well.
- New oil refineries will be easier to place, for it will be the government looking to get them done, having more clout to quiet agencies who would want to slow things down.
- It will show people that oil companies weren't the robber barons they were cast out to be, since prices didn't plummet under state ownership.
- It will give the left one less thing to whine about and for state AGs to demagogue over.
- Yes, it will cut into exploration, since wildcatting will be a federal job, but since they are tightening the regulatory loop, we won't lose that much.