News Oil & Gas

Nationalize Oil and Gas – LA Progressive

If you could wave a magic wand, and transition the world away from fossil fuels, Americans would instantly be safer. Oil and gas development has often been associated with autocracy and corruption. Governments in countries such as Russia and Iran have used oil and gas to threaten neighbors and fund terrorism. Corruption, autocracy, and terrorism are a persistent threat to nations that stand on the rule of law. 

A world in which oil and gas money has less power is a world that will likely have less corruption, autocracy, and terror. That world will be a safer world for America. Sheldon Whitehouse, a Democrat, represents Rhode Island in the U.S. Senate. Lindsey Graham, a Republican, represents South Carolina in the U.S. Senate. I am going to ask you to consider some ideas that will probably initially strike you as being largely unworkable and possibly even un-American and certainly anti-capitalist, so I am going to ask you for the favor of your attention for a few minutes, even when you might be inclined to tune me out. I am not going to shock you initially, in fact, I am going to try to sneak up on you through historical illustrations.

The idea of a transcontinental railroad was first proposed in Congress in 1845 but it wasn’t considered practical or possible at that time. But two years into the Civil War, an amazingly strange time to propose a major infrastructure project, President Lincoln signed the act that engaged two competing railroad companies to start building lines, one starting on the west coast and headed east, and the other on the east coast headed west.

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