Woodchucker writes:
Big G: All oil companies and agri companies should be government runJebus no big g. We have that in Canada and its sucks. Petro Canada and the Wheat Pools are failures as business models.
I know nothing at all about Canada’s Wheat Pools and Petro Canada. In many to most of the big oil producing countries, the oil and gas industry is run by the state (with foreign investment) in a joint ownership model, and it worked great. The oil and gas industries in the Gulf and the rest of the Arab World, Iran, North Africa, Russia, Venezuela and Bolivia are run by the state. The state oil industry was the source of most of the revenue for the Mexican government for many years and I understand it is a model that worked well.
Look at all of the incredible wealth that they have produced. Looking at the picture over the whole world, oil and gas seems to be one industry in which states do a great job, as good as or better than private corporations.
