This mainly stems from me seeing my country, the United States, not handle its oil as well as it could (except for Alaska), and also being a Georgist that wants to see the value of our non-reproducible natural world be recuperated (and used to untax the work of labor and the investment of capital); which has led to us making articles praising it
Your guys’ oil fund should be a beacon of inspiration to the rest of the world.
https://i.redd.it/17b8vggy1yof1.jpeg
Posted by Titanium-Skull
6 Comments
Canadian here. We had a chance to develop a sovereign wealth fund decades ago but chose the path of large corporate ownership. Now we are the top panel of this meme, wishing we were the bottom panel.
That happens when governments do not milk the state-owned oil companies. The 2;1 split between the government and private investors really worked. Now it is a bit on the downside because green investments are seen as dumb but hopefully they will resurface again.
Norway is the proof that it is possible to break the [resource curse](https://en.m.wikipedia.org/wiki/Resource_curse).
It looks better than the reality and quality of what it supposedly provides us
Dutch person here, we let private companies (looking at you shell) make huge profits and now when there’s damage they’re nowhere to be found.
When Norway first started with oil it was a hard fight. Strong political forces wanted to give the rights to private capital. Basicly big foreign oil companies. Thankfully even our conservatives backed the play of keeping it under state ownership/management. Sadly alot of the world sees this as us being far left radicals at best, communists at worst. Go figure o/ Today there sadly is a very strong market liberal political wind blowing here, so maybe in a few years we will loose it all anyway.