Should America establish a state-run oil company to help reduce the deficit? (companies, government)

[tablemtn]

This is an interesting question, considering the success of companies such as PetroBras (a semi-public company in which the Brazilian government owns a 65% stake), the semi-public Norwegian corporation Statoil, and the state-controlled China National Petroleum Corporation - the second-largest company on Earth by market capitalization after (or sometimes in front of) Exxon Mobil.

It sounds anathemic to recent history, but if anything, the US has a long and storied history of state involvement with energy enterprises.

If the US were to have a national energy company with freer reign to explore and extract on public lands (such as ANWR), the revenues could be channeled directly to deficit reduction and energy technology research.

Should we establish an "American Energy Corporation" to serve these ends? As an American-managed company, we could ensure that only American citizens are hired as workers and managers, and that earnings are repatriated to America's federal budget immediately.

[desertdetroiter]

Probably not at this point. That train has left the station.

I do wish that the American public owned all mineral rights on our soil though.

[thriftylefty]

no but it would be nice if the government would threaten to tap its oil reserves to send the price of oil plummeting to a realistic figure

[tablemtn]

I think the main advantage of a state energy company exploring on public lands is that we would avoid the sense of corporate "profiteers" exploiting public land. There would be an environmental tradeoff, but we would be secure in the knowledge that the proceeds would be directly repatriated and would help to reduce our debt.

[thecoalman]

Originally Posted by tablemtn

If the US were to have a national energy company with freer reign to explore and extract on public lands (such as ANWR), the revenues could be channeled directly to deficit reduction and energy technology research.

This has worked so well for AMTRAK and the USPS.

[lifelongMOgal]

And the OP finds those powers enumerated to the government exactly where in the Constitution?

[tablemtn]

It would be established under the same Constitutional basis as the Tennessee Valley Authority or any other governmental or public-private hybrid entity - the commerce and taxation authority granted to the US government.

There isn't any such thing as a right of private, multinational corporations to all American lands or resources. Otherwise, we'd be forced to divest the entire National Parks system to private interests.

[mohawkx]

I don't think it would be a good idea. We need to invest in other energy sources, otherwise we risk ending up owning a buggy whip industry. The future is alternate energy, not petro based. IMO.

[Toyman at Jewel Lake]

Originally Posted by thecoalman

This has worked so well for AMTRAK and the USPS.

Well, what about Fannie Mae and Freddie Mac? Aren't they models of a public/private hybrid like the OP suggests. They're working out great