4 ms·

They're probably hoping to emulate Norway + Statoil, which has made the Norwegian state extremely rich[1]. It didn't stop oil exploration in Norwegian waters, q

They're probably hoping to emulate Norway + Statoil, which has made the Norwegian state extremely rich[1]. It didn't stop oil exploration in Norwegian waters, quite the opposite. [1] https://www.ft.com/content/99680a04-92a0-11de-b63b-00144feabdc0 https://www.ft.com/content/99680a04-92a0-11de-b63b-00144feab...

jasmer 3y ago
[flagged]
kspacewalk2 3y ago
They might end up emulating a petrodictatorship instead, because it's an open question whether they have the state capacity, institutions, and most importantly a populism-proof electorate to achieve what Norway has, instead of the default "resource curse" option most other oil-rich countries fell into.
- MSFT_Edging 3y ago
  Its always a dictatorship when a global south country refuses to play extraction-ball that will need to be "liberated".
  - kspacewalk2 3y ago
    I'm rooting for them to remain democratic, just saying the resource curse[0] is not a concept made up by evil dastardly westerners to keep "global south" countries down. It seems to be the default path, sadly. [0] https://en.wikipedia.org/wiki/Resource_curse https://en.wikipedia.org/wiki/Resource_curse
- fmajid 3y ago
  Chile is actually a pretty well run country with a First World GDP. Yes, their economy is heavily based on natural resources but so is Australia or Canada. Saudi Arabia on the other hand is fabulously corrupt but they were still able to take over their oil industry (Aramco) without problems and even go upmarket in petrochemicals with SABIC.
  - 29athrowaway 3y ago
    It used to. Now it is another leftist enabled Supermarket Sweep season.
fmajid 3y ago
Norway learned from other Iraq and avoided both the resource curse and Dutch disease: https://psmag.com/environment/iraqi-vikings-farouk-al-kasim-norway-oil-72715 https://psmag.com/environment/iraqi-vikings-farouk-al-kasim-... Of course Norway has strong democratic institutions Iraq didn’t, but so did the Netherlands.
29athrowaway 3y ago
Why would you put a company in charge of a system controlled by nepotism and corruption?

jasmer 3y ago

[flagged]

kspacewalk2 3y ago

They might end up emulating a petrodictatorship instead, because it's an open question whether they have the state capacity, institutions, and most importantly a populism-proof electorate to achieve what Norway has, instead of the default "resource curse" option most other oil-rich countries fell into.

MSFT_Edging 3y ago
Its always a dictatorship when a global south country refuses to play extraction-ball that will need to be "liberated".
- kspacewalk2 3y ago
  I'm rooting for them to remain democratic, just saying the resource curse[0] is not a concept made up by evil dastardly westerners to keep "global south" countries down. It seems to be the default path, sadly. [0] https://en.wikipedia.org/wiki/Resource_curse https://en.wikipedia.org/wiki/Resource_curse
fmajid 3y ago
Chile is actually a pretty well run country with a First World GDP. Yes, their economy is heavily based on natural resources but so is Australia or Canada. Saudi Arabia on the other hand is fabulously corrupt but they were still able to take over their oil industry (Aramco) without problems and even go upmarket in petrochemicals with SABIC.
- 29athrowaway 3y ago
  It used to. Now it is another leftist enabled Supermarket Sweep season.

fmajid 3y ago

Norway learned from other Iraq and avoided both the resource curse and Dutch disease: https://psmag.com/environment/iraqi-vikings-farouk-al-kasim-norway-oil-72715 https://psmag.com/environment/iraqi-vikings-farouk-al-kasim-... Of course Norway has strong democratic institutions Iraq didn’t, but so did the Netherlands.

29athrowaway 3y ago

Why would you put a company in charge of a system controlled by nepotism and corruption?