People’s Power: taking control of the energy transition
Dawson suggests something like the strategy outlined the Democracy Collaborative for bringing the oil and gas sector into public ownership.
Governments would prepare the way for socialisation by undermining the sector’s market value through the removal of the subsidies it currently receives, and enforcing tough regulations on the exploration and production of oil and gas. States would then take majority shareholdings in the oil and gas majors, securing the control necessary to wind them down. Shareholders would be given incentives to roll their investments into renewable energy stocks, and assistance would be given to workers and communities currently dependent on fossil fuels to find new opportunities in the green economy.