It’s time to nationalize Shell. Private oil companies are no longer fit for purpose
It is time to nationalize big oil.
Public ownership, by itself, does not guarantee that we will fully replace oil and gas with renewable energy in time to avert the worst impacts of the climate crisis. As detractors to public ownership often note, three-quarters of the world’s oil reserves are already owned by states rather than private companies, which are far from immune from corruption. But we don’t advocate public ownership because it is a magic bullet – we advocate it because it is our only shot.