c29d2a No.70
Is state-ownership economically justifiable in any case?
Would, for example, a country with cheap oil be better off if it was state-owned? Would they get a better reinvestment rate?
Be nice.
7e06e7 No.73
The simple answer is no.
A more complex answer is, government profiting off of a monopoly on rich oil wells is going to spend that money in other ways which will undoubtedly inhibit other economic sectors. More money for Big G means more regulations and more wasteful bureaucracy. Or worse, entitlement and subsidy programs that artificially inflate multiple markets while simultaneously degrading the quality of the services provided. See: Public education/Colleges.
tl;dr The Law of Unintended Consequences.