idea for implementing renewable energy?

The government buys the major oil companies. Then uses the massive profits they are currently amassing to implement renewable energy sources(wind, hydroelectric, solar, etc.). Good idea?

On the surface, but what about all the stockholders in these companies? do you deprive them of their income? Many will be retired people depending on the income from these shares or bonds to live on.

The “massive profits” do not go to the directors of the companies (although they do get some), they go to the shareholders, and for development of new sources of oil.

But are there actually “massive profits”? I believe most of the money goes to the large oil producing countries like Saudi Arabia. Look up the average income for those countries.

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20% renewable energy by 2020