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We cannot drill our way out of this oil crisis. Since 2000, oil companies working in the U.S. have doubled the number of wells drilled per year.

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Who Owns the World's Oil?
Public Policy; Political and Legal NewsThe struggles over the ownership of the two most important political liquids of this era, petroleum and water, have had different fates. Though water has been claimed to be either private, state or common property throughout history, the novel feature of this period has been the move by corporations to totally privatize it.

The powerful struggles against this corporate privatization of water from Cochabamba in Bolivia to Soweto in South Africa have focused world attention on the question: Who owns water? The consequent efforts to keep water as a common property on a local and global level are now some of the most important initiatives of the anti-globalization movement.

Progress.org

Posted on Monday, December 27 @ 06:29:24 PST by aaron
 
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ARE We Out of Gas Yet?

 
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Re: Who Owns the World's Oil? (Score: 1)
by Grasshopper on Monday, December 27 @ 08:24:28 PST
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Oil is different from water. Water is a necessity of life, while oil is only a versatile fluid, albeit valuable.
Indigenous people have a right to a say in how or if a resource is extracted, as well as a share in the proceeds. Many countries have run roughshod over their people's rights, however, and there would be a lot of extra baggage attached to equitable distribution.
Extra-national Islamic and global petroleum commons ownership appears to be a cash-grab or power-grab, and should be resisted (to a certain extent, indigenous ownership is also, as the resources in question might never have been used by the local people).



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