Yes, the Georgist solution is similar to what Norway has done with its oil resources, which have collectively made Norway immensely wealthy in comparison to the petroleum states elsewhere around the world.

The difference is whether the state will be allowed to profit from its own resources, or is the nation under the thumb of a more militarily powerful nation and there exploited by foreign capital. We let Norway exploit its resources its own way, in other nations we have interfered mightily to better our own interests at the expense of the populations of the nation that owns the oil resource.