For those not aware of it, the largest oil producing companies on earth are indeed nationalized.
Chevron produces about 2 million barrels per day. In contrast Saudi Aramco produces 11 mbps. Equinor (used to be Statoil) is over 5 mbps from 5 different countries. PetroChina is about 6, last I looked, also from 5 different countries.
Hard to know what nationalizing a few US oil majors would do. Didn’t particularly hurt output from Aramco, Rosneft, Equinor, PetroChina, Petronas.
Don’t measure success in dollars. Those are pieces of paper with ink on them created from thin air by the Fed. Measure with barrels per day.
National oil companies produce 80% of oil produced on earth. Oil is lifeblood. It defies economics.
bpd not s, tablet typo
I know, it's a horrible thing for a U.S. company to be nationalized.