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That might be the case, but as far as the political party with a complete, iron-clad grip on the neck of the government is concerned, every other industry is an
by mullingitover 1y ago
That might be the case, but as far as the political party with a complete, iron-clad grip on the neck of the government is concerned, every other industry is an afterthought. For example, solar and wind are essential parts of an energy portfolio for domestic industry. These are being taken out back and kneecapped with billy clubs to prop up oil/gas/coal.
If the country isn't a petrostate it's certainly cosplaying one to a psychotic degree.
- hedora 1y agoImagine if that 6% of the GDP fed back into social services, education, and other government programs that benefit people. About 17% of the GDP is paid to the federal government in taxes. Nationalizing oil production is equivalent to lowering the effective federal tax rate by 35%.
- mothballed 1y agoNationalizing oil has been tried quite a few places with wildly variable results. In the worst case, you get Venezuela, in the best you get something like UAE where the citizens basically only have jobs if they get bored or want to play police to lord over the foreigners.
- dylan604 1y agoWhat about Alaska? https://en.wikipedia.org/wiki/Alaska_Permanent_Fund https://en.wikipedia.org/wiki/Alaska_Permanent_Fund
- oklahomasports 1y ago6% of gdp does not mean profit