3 ms·
Also USA, Brazil, Mexico, the UK, Colombia, Ecuador... there are more, but it depends on what you mean by "oil-rich". Ecuador, for example, produces less oil th
by lobster_johnson 9y ago
Also USA, Brazil, Mexico, the UK, Colombia, Ecuador... there are more, but it depends on what you mean by "oil-rich". Ecuador, for example, produces less oil than Norway, but its oil production is a higher percentage of their GDP.
- philwelch 9y agoI define "oil-rich" in such a way that oil revenue is the dominant part of the economy. This would exclude the US and UK, for instance. (In fact, not even Canada might qualify by this metric.) Of course, this is almost tautological, since any liberal democracy worth its salt ends up with an economy that does a lot more than simple resource extraction. I would have to research the other Western Hemisphere examples you mention, though with the levels of corruption and often outright civil war in many of them, I would question whether they qualify as "liberal democracies" (or perhaps I should add the qualifier, "stable").