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Sure you can, it will just be an estimate.

If you had the in depth data such a network provided, the estimate would likely be more accurate.

The monitoring of this sort is done by every energy company these days, just not public or interlinked. The governments get lump values from the big companies instead.

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Can they act on estimates? Can they take resources ( like gas, copper, electronics, etc... ) from one private company's storage and give it to other (more critical) company?

For example: take gas from paper-clip factory and give it to fertilizer factory?

That's not what central planning ever did, either. They changed priorities and quotas instead. And even that system (soviet version) was very short-lived.

Governments these days use pricing, including special case pricing and tax breaks to achieve a similar thing even more roughly. Unless there are shortages, in which case they intervene directly.

So, what we have now is actually much less efficient.

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