Comment by GeneralMayhem
15 hours ago
Norway is pretty much the only country with oil wealth that can reasonably be considered well run (unless you count Canada or the US, which, while resource-rich, have a lot of other things going on and aren't dependent on their petroleum resources).
Of the other countries where petroleum is >10% of the national economy, I think Norway might be the only one that isn't a brutal dictatorship, a failed state, or both?
You raise a great point. I wracked my brain trying to think of counterexamples: It is tough!
I found this graphic from CNBC that summarises data from the World Bank: https://assets.weforum.org/editor/0GAQbN2nVTxgIqOLjWpWSZYh-9...
One thing I want to point out: Kuwait is the most dependent upon oil and gas of any nation in the world (about 50% of its GDP). However, I think it would be a stretch to call them "a brutal dictatorship, a failed state, or both". Sure, it isn't a Western liberal democracy, but people live pretty good lives and the state does not have a strong reputation for suppressing its people. (I'm not here to apologize for their gov't... but I think it would be a bit harsh to put in your categories.) UAE, Bahrain, Oman, Brunei, and Qatar: I would put in the same category: Non-democracy or flawed democracy, but life is pretty good for the locals. I guess that we can call all of the countries that I mentioned before: "benevolent dictator" gov't model. Interestingly, Ecuador is about 20% of GDP, but I would call them a developing/emerging democracy. The rest of the list... sheesh: It does not look good!
What do you think about my analysis? Do you agree?
?? Russia, the US, half the damn gulf states seem to be doing just fine (maybe excluding Bahrain and Iraq). Very much including Iran, despite our efforts to strangle it to death for fifty years straight.
> I think Norway might be the only one that isn't a brutal dictatorship
Just because you don't like a government doesn't mean it's doing a bad job at, well, holding a state together.
> Russia
Totalitarian, and trending toward failed state.
> US
Not eligible for the reason I stated: the US economy is much less than 10% petroleum. We have a lot of oil, but we have a lot more of everything else.
> gulf states
Mostly brutal, repressive dictatorships (especially Saudi Arabia and Iran) - some are better than others, but the trend is poor.
> Just because you don't like a government doesn't mean it's doing a bad job at, well, holding a state together
You're moving the goalposts a fair amount here. The thread started with "good governance", and I said "well run" - it's hard to say that the bar for either of those is simply maintaining superficial order. But even if you set that aside, consider the famous quote from the Shiekh of Dubai about the fragility of the petrostates that haven't figured out how to build strong civil societies with their wealth: "my grandfather rode a camel, my father rode a camel, I drive a Mercedes, my son drives a Land Rover, his son will drive a Land Rover, but his son will ride a camel."