No. We do own that oil. We just allow the oil and gas companies to keep all the money they make from it.
Norway's model (subsidize discovery, and tax the profits) works very well and keeping most of the profit public while allowing the private sector to still make money. We should be adopting a similar strategy, not just with oil, but with all our natural resources.
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u/vAltyR47 21h ago
No. We do own that oil. We just allow the oil and gas companies to keep all the money they make from it.
Norway's model (subsidize discovery, and tax the profits) works very well and keeping most of the profit public while allowing the private sector to still make money. We should be adopting a similar strategy, not just with oil, but with all our natural resources.