How resource revenues can halve global poverty

Journal article

Who benefits from oil revenues? The bitter struggles for oil nationalisation through the twentieth century bear witness to the sensitivity of this question. Now that the principle of national sovereignty over natural resources has been established, the debate has moved on from which countries should benefit from resource revenues, to who within the resource-exporting countries will benefit. Political upheavals in Venezuela and Bolivia are two dramatic examples of what can happen when a majority feel that they are not getting their fair share of their national patrimony. This question became all the more pressing during a decade of rising commodity prices, leading to record oil prices, which the global financial crisis appears to have slowed only temporarily.

Authors: Segal, P

• Publication status: Published
• Peer review status: Peer reviewed
• Publisher: Oxford Institute for Energy Studies
• Journal: Oxford Energy Forum
• Issue: 78
• Pages: 11-13
• Publication date: 2009-08-17
• ISSN: 0959-7727
• Language: English
• Keywords: OIES