You don't understand what Thatcher did.
Coal mining was owned by the state at the time. She could shut down mining because it was within her remit to do so. If it was a private concern, it would have shut LONG ago due to losing money. She then sold off what was left so it wasn't under state control.
What you're proposing is strict national regulation or ownership of those companies. That's the exact opposite of what she did. Also are you proposing invasion of Saudi Arabia? Really?
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My opinion on this is that, yes, regulation and caps don't work because they are explitable.
We need to make oil UNECONOMICAL, not ILLEGAL. We can do this by investment and research (not subsidy) in alternative sources, I envision mostly nuclear with some renewable support until nuclear fusion is viable and then 100% that.
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