Skip to main content
Default Image

Is Nationalization An Answer to Climate Change?

Kate Aronoff writes for the Intercept on ”Is Nationalization An Answer to Climate Change?” In this article, Aronoff cites research by the Next System Project: 

[…] Others have proposed steps still more dramatic than those laid out by Labour. Researchers with the Next System Project, for instance, have outlined what it would look like for the U.S. government to nationalize major U.S.-based fossil fuel producers through a process known as quantitative easing, wherein the government spends money into existence by changing the makeup of the Federal Reserve’s balance sheet, as it did when it purchased toxic mortgage assets from major banks in 2008. In a paper released this week, Carla Santos Skandier argues that staying within the world’s “carbon budget” — the limited amount of emissions that can be put into the atmosphere before we risk catastrophic warming — will require the state (and central banks, in particular) to play a more active role in economic planning. “The most effective, and timely, way to untangle the paralyzing relationship between government and industry is through a federal buyout of the fossil fuel companies that control these noxious assets,” she writes. “And how would that work? In brief, the federal government would acquire 51 percent or more of the shares of such major US-based, publicly-traded fossil fuel companies as ExxonMobil, Chevron, and ConocoPhillips.” Such a move, Skandier adds, would also kneecap the industry’s political considerable influence over climate and energy policy. […]

Read more in The Intercept 

Publication date: 2018-09-07
Parent publication: The Intercept
Publication URL: Is Nationalization An Answer to Climate Change?

More related work

Default Image

The Democracy Collaborative and The Democracy Collaborative Workers' Union agree to fair severance package for laid-off staff

TDC and union members have agreed to a package of protections that goes well beyond the baseline severance provisions for layoffs agreed to in TDC’s union contract.

read more
Default Image

HAN Anchoring Resilience: Aligning supply chains and impact purchasing for community health summit

The Healthcare Anchor Network (HAN) convened the “Anchoring Resilience: Aligning Supply Chains and Impact Purchasing for Community Health” summit to spark collaboration in the healthcare sector around onshoring and localizing production of PPE and other supplies, with an emphasis on equity, sustainability, and supply chain resilience.

read more
Default Image

Reimagining Personal Protective Equipment (PPE) Supply Chains

The Democracy Collaborative prepared a report, created for the Healthcare Anchor Network, which details the current status of the supply chain of PPE, the market shifts caused by COVID-19, and the potential solutions to ensure capacity within US health systems for the future.

read more