Could big oil have to give up equity share to the government to pay back green energy and carbon capture grants given to them? This could lead to a national oil company which the administration would live to have.
3 replies (most recent on top)
Great analog about the shipbuilding. This post belongs in the hall of fame.
Assuming this is a legit question - the situations are, IMHO, entirely different. First, in the chip manufacturing sector there are far fewer companies involved - Intel, Taiwan Semiconductor Manufacturing Company ("TSMC"), Samsung and perhaps also consider Micron Technology and SK Hynix (South Korea). The concern many (including me) have is that much of the manufacturing by TSMC, Samsung and SK Hynix is currently in Southeast Asia and could be disrupted in a dispute with China (the US's primary economic/military threat today). (As an aside, TSMC has supposedly committed to building some manufacturing in the US but not sure that there has been a final agreement or schedule for this coming online.)
This is much closer to US Government investment in ship building where, leading up to World Wars I and II as well as for a period of time afterwards, the industry was determined to be a national security priority and there was a certain level of subsidy or ownership of ship building yards on both the Atlantic and Pacific coasts.
Given the large number of oil and gas companies operating in the US, from the IOCs to the mom and pops, IMHO I do not see the US Government demanding ownership interests in any energy company.
@OP So no, they won’t have to give up an equity share. Secondly, nobody wants an NOC in the United States, including the administration. Hope that answers your question.