The situation with PDVSA was more complicated than that [1]. As for Norway, to avoid the Dutch disease they made several crucial decisions [2] early on, one of

The situation with PDVSA was more complicated than that [1]. As for Norway, to avoid the Dutch disease they made several crucial decisions [2] early on, one of them being to encourage the development of a healthy, competitive private oil/gas sector while still retaining the majority of revenue and oil fields. They also funneled the profits into the now-famous sovereign wealth fund. [1] https://foreignpolicy.com/2018/07/16/how-venezuela-struck-it-poor-oil-energy-chavez/ https://foreignpolicy.com/2018/07/16/how-venezuela-struck-it... [2] https://www.ft.com/content/99680a04-92a0-11de-b63b-00144feabdc0 https://www.ft.com/content/99680a04-92a0-11de-b63b-00144feab...