This is bad analysis. Natural resources don’t make countries poorer, they make the US/UK/France/Spain/Italy invade you.
Libya, rich in oil, was the richest country in Africa (and highest Human Development Index) until the west bombed it and triggered a civil war. Iran was on the way to use its oil for its own profits by nationalizing it under the democratically elected leftist government of Mosaddeq until it got blockaded and couped by MI6+CIA and a corrupt monarch got reinstated. Venezuela took millions of people out of poverty until US sanctions came in an attempt to kill the socialist government and put millions through hardship. Saudi Arabia, having a government very cozy with the US, gets away with no US coups, but has 70% of the population being effectively slaves.
Worth noting that most of the time oil (newly discovered natural resources really)makes a country poorer than richer. See Venezuela and such.
So good on Norway to not give in to unbridled corruption and out that money on a public fund to make its own citizen wealthy
Well yes, Norway’s leader wasn’t assassinated by the US, followed by sanctions and throwing money and weapons at militant factions. I wonder why…
This is bad analysis. Natural resources don’t make countries poorer, they make the US/UK/France/Spain/Italy invade you.
Libya, rich in oil, was the richest country in Africa (and highest Human Development Index) until the west bombed it and triggered a civil war. Iran was on the way to use its oil for its own profits by nationalizing it under the democratically elected leftist government of Mosaddeq until it got blockaded and couped by MI6+CIA and a corrupt monarch got reinstated. Venezuela took millions of people out of poverty until US sanctions came in an attempt to kill the socialist government and put millions through hardship. Saudi Arabia, having a government very cozy with the US, gets away with no US coups, but has 70% of the population being effectively slaves.