The public debate over the problems of electricity supply displays a curious disconnect. On the one hand, there is virtually universal agreement that the system is in crisis. After 25 years, the promised outcomes of reform in the electricity industry — cheaper and more reliable electricity, competitive markets and rational investment decisions — are further away than ever.
Nationalisation
The socialisation of essential services is fast becoming a formidable policy in the “contestable marketplace of ideas”. Nowhere is this more so than with railways and bus services; an everyday service all social demographics touch daily.
British Labour leader Jeremy Corbyn believes nationalisation and socialisation will save millions of pounds a year, get community members back to work, augment sustainable transport and retool British industries.
Australia's Big Four banks — the Commonwealth, NAB, ANZ and Westpac — are the most concentrated and profitable set of banks in the world. These mega-banks are cutting their workforces, while paying their executives huge salaries and bonuses. They should be placed in public hands.
The federal government's much-vaunted parliamentary inquiry into the banking system was correctly called "a farce" by Labor MP Pat Conroy on October 4, the first day of a three-day hearing in Canberra. Conroy said: "I have two days of questions here" but no time to ask them.
The inquiry was an attempt by the government to deflect growing calls for a royal commission into the banking system.
"Let's take the big banks head on over their crimes and their attempts to cover up their massive financial rip-offs, and nationalise them under workers' and community control," Peter Boyle, Socialist Alliance candidate for the seat of Sydney in the upcoming federal election, said on April 14. Boyle was responding to reports the banks were considering a huge advertising blitz against plans by the Greens and the Labor Party to launch a Royal Commission into the banking and finance sectors.
With the Paris climate talks just around the corner it is timely to consider what effective policies to cut emissions might look like. Nationalisation and direct public investment are key policies that have historically been “bread and butter” political demands both for socialists and for the more radical voices within social democratic parties.
Climate activists from the Greens and Labor Environment Action Network should revisit these ideas, as they are a useful alternative to the dead end that is carbon trading.
Direct public investment
In response to the announcement by General Motors from its corporate headquarters in Detroit that it will discontinue vehicle and engine manufacturing and significantly reduce its engineering operations in Australia by the end of 2017, the Socialist Alliance calls for the immediate nationalisation of General Motors Holden (GMH) plants under workers' and community control.
On October 7, the Socialist Alliance adopted as a key focus for its next federal election campaign a call to bring the mining industry and the banks under public/community ownership and control, so they can be run in a way that respects Aboriginal rights, the environment and social justice. The urgent need to address climate change alone demands that these industries be immediately taken out of the hands of the billionaires and their global corporations and operated as not-for-profit public services under the democratic control of the majority.
Venezuelan President Hugo Chavez said that his government would nationalise the exploration and exploitation of gold and related activities, AVN said on August 17.
Chavez said: "I will soon propose an enabling law so as to begin taking control of the gold area and I expect you to support me, because anarchy rules in this zone, there are mafias, smuggling.
"This is a great wealth, one of the world’s largest. There is plenty of gold, precious stones, diamonds, bauxite and iron in Guyana.
Venezuelan President Hugo Chavez announced the nationalisation on October 25 of US-based glassmaker Owens-Illinois affiliates, Venezuelanalysis.com said on October 27. The article said this places 60% of Venezuela’s glass bottle industry under government ownership.
A series of problems and challenges are facing the Bolivian government of President Evo Morales, the country’s first indigenous head of state, and the process of change it leads has emerged. There has been a range of commentary on these challenges. Green Left Weekly publishes these two pieces as part of our ongoing coverage of the Latin American revolution. The article below is by Eduardo Paz Rada, editor of Bolivian-based magazine Patria Grande. It has been translated by Federico Fuentes.
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The head of Venezuelan state oil company PDVSA said on June 24 that the government is to nationalise 11 oil rigs previously operated by a US petroleum firm. This comes after the company, Helmerich & Payne, closed down production and refused to negotiate a new services agreement.
PDVSA president Rafael Ramirez said the nationalisation would “boost domestic production of hydrocarbons and strengthen the policy of full oil sovereignty”.
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