The idea of nationalizing the fossil fuel industry as a climate solution has had some attention in recent years, though it hasn’t yet broken into #mainstreaming policy discussions. Proponents argue that taking control of the industry allows for a managed, planned decline of fossil fuel production, aligned with climate goals and fair treatment for workers.
Notably, liberals like the Democracy Collaborative’s Carla Skandier have proposed a “51 Percent Solution,” where the government would secure a majority stake in fossil fuel companies, guiding a controlled reduction in output while providing worker protections and ensuring energy security during the transition. Economists, including Mark Paul, have also highlighted that, with public ownership, governments could avoid lay-offs and support fossil fuel workers through the transition, making this approach both an economic and environmental path.
While mainstream politics in the U.S. and Europe have not embraced nationalization yet, there’s increasing support for policies targeting both demand and supply of fossil fuels. Without direct control over fossil fuel companies, efforts to reduce emissions are blocked by corporate profit motives and the industry’s political corruption and influence. This #KISS liberal approach serves as a substantial step toward meaningful #climateaction, but its feasibility, however political support, would require broad public backing and economic planning to balance stability and fairness during the transition.
This is likely the ONLY #mainstreaming path that could work, me I like other paths, no issue not to do both at the same time #OMN