"Is there any actual evidence that natural resource wealth is strongly correlated with level of development?" Money can buy development of many kinds, so of co

"Is there any actual evidence that natural resource wealth is strongly correlated with level of development?" Money can buy development of many kinds, so of course there is a link. The question is - can the country organize itself in a manner such that it is able to extract the resource, make a profit, and spend it effectively? That's the question. Venezuela has problems: A) A lot of it's oil is 'tar sands' - Canadians are the only people who can deal with this complexity right now. It's expensive and complex to extract. B) Total disarray and corruption in governance and private sector. C) Chavismo Socialism. So, those things cause all sorts of other things to dysfunction as well, they're all interconnected.