Oliver Stone: US should seize domestic oil resources

The Academy Award-winning director of "Born on the Fourth of July" and "JFK" said that America's country's natural wealth was too important to be left in private hands, telling journalists in central London that oil and other natural resources "belong to the people."

"This BP oil spill is typical" of what happens when private industry is allowed to draw revenue on what should be a public good, Stone said.

"We shouldn't make this kind of profit on oil or on health or on war or on prisons. All these industries should be public industries."

Stone, 63, is in the British capital to promote his documentary, "South of the Border," which tells the story of firebrand Venezuelan President Hugo Chavez and his left-wing Latin American allies.

The 75-minute film is meant to draw attention to the social improvements ushered in by Chavez, who has nationalized vast swaths of Venezuela's economy, including important parts of the oil sector and big chunks of the banking, electric and steel industries. Bolivian leader Evo Morales, also interviewed by Stone for the documentary, has similarly expanded the state's control over the country's energy infrastructure.