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The United States is one of the only countries where oil, and to a lesser extent, other fossil fuels, are privately owned. In most places they are a state asset, a rent, which is leased to bidders/FDI, or directly owned/managed by the state.
Even the US has limited forms of said ownership, such as with the Alaska Permanent fund, which is pseudo ownership, and various other trust funds & so on.
Canada is a mixed case. While the state plays a large role in many areas, public corps manage oil trusts, the state takes a large cut of revenue & founded many of the companies, it’s more similar to the US these days.
World fossil fuel subsidies are higher than 5 trillion, at around 8% of global GDP. https://www.vox.com/2019/5/17/18624740/fossil-fuel-subsidies-climate-imf
One conservative estimate of ecological externalities which doesn’t fully account for ecosystem services, public health, biodiversity, nonlinear effects, & the 9 planetary boundaries finds ecological externalities at 13% of GDP, & 27% of private industry earnings.
Of course militaries & states are among the biggest. Through things like military expenditure, infrastructure, underpriced parking & tolls & state energy usage, we can estimate it as being around the same as private.
Outside of the US & Canada, almost all the biggest fossil fuel producers & many mining concerns etc are state owned & managed (& to this we can add airlines & arms industry which are similar) https://twitter.com/yungneocon/status/1159185580065992704?s=21 https://twitter.com/yungneocon/status/1159185580065992704
The US & Canada do provide massive subsidies, tax breaks, monopoly, industry written regulations, land giveaways, credit, interest support, protectionism, & purchases. Not to mention support of its military & related establishments.
State owned firms are leading ecological nightmares all over—Russia, China, Malaysia, Australia, Norway, Mexico, Brazil, India, South Africa, Indonesia, to name a few https://twitter.com/yungneocon/status/1231807198453551104?s=21 https://twitter.com/yungneocon/status/1231807198453551104
As the thread I linked above demonstrates, state socialist societies were no environmentalists wrt ecological issues & resource use https://twitter.com/yungneocon/status/1159183146094665730?s=21 https://twitter.com/yungneocon/status/1159183146094665730
This thread details economic data about USSR but of relevance here for containing further sources on the political economy of oil in General https://twitter.com/yungneocon/status/1240003489813663750?s=21 https://twitter.com/yungneocon/status/1240003489813663750
https://twitter.com/yungneocon/status/1213481949915942913?s=21 https://twitter.com/yungneocon/status/1213481949915942913
