Socialism, the oil way?

Hugo Chavez did it in Venezuala. He nationalized all the oil companies and started using oil money to distribute public goods and services. It worked, albeit limitedly, till now. The real test is gonna come once oil prices drop to a more naturalized price and stays there for long. No longer will Iran, Russia or Venezuala (this can cliqued, i know) have the same political clout or the adbundant pecuniary source to fund their campaigns and their socialist-isque endeavors. 

This brought me to an interesting debate I had with a fellow student here. What if American oil companies were nationalized. I mean, the government is doing it with banks, buying their stock, providing them with capital and shoring up their financial reserves to "save the economy". Aren't $14 billion dollars in oil profits from just ONE company, i.e. Exxon, worth it? I know, it might not last too long and with the current downward pressure on oil prices, the profits aren't guarenteed at these record levels, but oil companies have historically had great margins and are usually cash generating cows. Who gets to the reap the benefits of this? The "shareholders". Who would they be? Well, executives, their friends, "George Bush", his vested interests(think Haliburton), and every other filthy rich owner who really does not need $500 million to satisfy his most outrageous needs. 

So why is the government and the country so pro-socialism for the bank sector which has milked millions of investors of their money? Why can't they try and buy stock in Exxon, or BP or any of the other oil giants that have and will continue to reap huge profits once the oil demand goes back up. Isn't that long term planning. Instead of a few hundred millionares, we'd have ONE rich rich shareholder, who inturn would share the wealth or the gains, atleast in the most fundemental sense.

I'm not against the bailout. It was necessary. But if we're being socialists, atleast temporary, why not be smart at it?