As Oil Price Plummets, Call to Nationalize Industry Rises

May 9, 2020

The price of oil dropped below zero, prompting new subsidies from the Federal Reserve. Progressive voices in the U.S. and Canada have a different idea: nationalization as a way to wind down the sector, tackle the climate crisis and create a just economic transition.

The price of oil dropped below zero, prompting new subsidies from the Federal Reserve. Progressive voices in the U.S. and Canada have a different idea: nationalization as a way to wind down the sector, tackle the climate crisis and create a just economic transition.


Oilsands Refinery - stock photo
A large oil refinery in Alberta's Oilsands project. Fort McMurray, Alberta.

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