What does it mean to nationalize the oil industry?

In 1951, the Iranian Parliament passed a law that nationalized the oil industry. In other words, the Parliament _____.


A)made all employees of the Anglo-Iranian Oil Company (AICO) Iranian citizens


B)sold the oil wells and refineries to the highest bidder


C)passed a law that made the oil wells and refineries the property of the Iranian government


D)No answer is correct.





I think the answer is D. Is that right?What does it mean to nationalize the oil industry?
I would say (C) is representative to what had happened.What does it mean to nationalize the oil industry?
C)passed a law that made the oil wells and refineries the property of the Iranian government





Nationalization means making it property of the government.
C, and in doing so completely destroyed it. Same has been true of every country that has nationalized an industry.
It's C.