A Trump Plan To Nationalize Coal Plants Could Be A Surprise Gift To Climate Hawks
Alexander C. Kaufman writes in the Huffington Post “A Trump Plan To Nationalize Coal Plants Could Be A Surprise Gift To Climate Hawks.” In this article, Kaufman quotes Thomas Hanna and the research by the Democracy Collaborative:
All of this fortifies the argument that investors cannot reform fossil fuel producers quickly enough, making the case stronger for severe government intervention in the form of nationalization, said Thomas Hanna, director of research at the Democracy Collaborative, a left-leaning think tank.
“Time may simply have run out on other options that we may be considering now,” Hanna said. “If climate change is a crisis, which it will be in the future, all economic possibilities need to be on the table to deal with that, and that means taking over fossil fuel companies.”
Hanna and his team estimated that it would cost the government $1.15 trillion to buy the top 25 largest U.S.-based, publicly traded oil and gas companies as well as the roughly four major remaining publicly-traded coal producers. That may sound like a lot, but he argued that could cost less than $200 billion annually over six years, which is slightly over one-third of the military’s current annual budget.