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A comment on Norway discovers Phosphate deposit large enough to supply world for 100 years. Parent comment

Re:Norway discovers Phosphate deposit large enough to supply... by arcticbull on Tuesday July 04, 2023 @02:12AM (#36582835)
For those unfamiliar with the resource curse [1] this isn't usually a ticket to victory. The largest proven oil reserve in the world isn't in Saudi Arabia, it's in Venezuela - the poorest country in the Americas.

What Norway deserves huge credit for is the way they manage their natural resources, and how they designed their sovereign wealth fund.

[1] https://en.wikipedia.org/wiki/Resource_curse

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Re:Norway discovers Phosphate deposit large enough to supply... by Chris2048 on Tuesday July 04, 2023 @04:49AM (#36583982)
But didn't Venezuela explicitly kick out foreign oil corps, despite not having a sophisticated oil extraction industry itself?
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Re:Norway discovers Phosphate deposit large enough to supply... by arcticbull on Tuesday July 04, 2023 @04:54AM (#36584012)
I believe that kind of behavior explicitly qualifies under 'resource curse.' Even if they hadn't, check out the 'enclave effects' section of the Wikipedia article.

> "Oil production generally takes place in an economic enclave, meaning it has few direct effects on the rest of the economy."

Venezuela is just one of many examples.

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Re:Norway discovers Phosphate deposit large enough to supply... by hfkwer on Tuesday July 04, 2023 @06:52AM (#36584921)
Venezuela's poverty has as much to do with incompetent leadership as it has with the US embargo.
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Re:Norway discovers Phosphate deposit large enough to supply... by arcticbull on Tuesday July 04, 2023 @05:07PM (#36592511)
Which is also mentioned in the article -_- in the "Violence and Conflict" section. Note that oil-rich states are both the targets and instigators of conflict. For instance, Venezuela's recent conflict with Guyana after their recent discovery of oil. [1, 2]

[1] https://apnews.com/article/venezuela-guyana-territorial-disp...

[2] https://apnews.com/article/guyana-oil-discovery-money-14c23a...

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