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If only they used the profits to build a great economy with more to offer. They have no shortage capable and even brilliant people, but they've got a management
by phkahler 5y ago
If only they used the profits to build a great economy with more to offer. They have no shortage capable and even brilliant people, but they've got a management problem at the national level.
- MisterBastahrd 5y agoSee also: Louisiana. It's understandable that there are a ton of chemical refineries near the mouth of the Mississippi because it allows for easier transport of refined goods to other countries. Less understandable when they're everywhere else in the state, except for the part where local governments give quarter-century and longer sweetheart tax break deals for these companies to come in, pollute the local environment, and pay no taxes on the real estate they're operating on. One of the main reasons that the education and social services systems in the state are so horrendously poor is because there's no tax revenue. And even by those standards, Russia is a kleptocrat's wet dream.
- bobthepanda 5y agoThe resource curse tends to be the rule, not the exception.
- MandieD 5y agoNorway seems to have avoided it the past few decades by following the advice Tony Montana didn’t: don’t get high on your own supply. They dampen the effects of easy oil money by putting most of the profits into their sovereign wealth fund and, unlike just about every other oil producing country, taxing fossil fuels even harder than countries like Germany and Denmark (which tax them pretty hard).
- pydry 5y agoNorway is the exception.