Comments on: Who Owns the World’s Oil? Government. http://healthblog.ncpa.org/who-owns-the-world%e2%80%99s-oil-government/ Health Care Policy and Reform Insights | NCPA Fri, 25 May 2012 19:03:05 +0000 hourly 1 http://wordpress.org/?v=3.3.2 By: Tom H. http://healthblog.ncpa.org/who-owns-the-world%e2%80%99s-oil-government/comment-page-1/#comment-64623 Tom H. Fri, 28 May 2010 17:45:14 +0000 http://www.john-goodman-blog.com/?p=10833#comment-64623 Curse: instead of normal development (e.g., like Hong Kong), the existence of one valuable resource creates enormous corruption and bad government which then makes it impossible for normal development to occur. Curse: instead of normal development (e.g., like Hong Kong), the existence of one valuable resource creates enormous corruption and bad government which then makes it impossible for normal development to occur.

]]> By: Virginia http://healthblog.ncpa.org/who-owns-the-world%e2%80%99s-oil-government/comment-page-1/#comment-64559 Virginia Thu, 27 May 2010 19:00:59 +0000 http://www.john-goodman-blog.com/?p=10833#comment-64559 What does the "curse" imply? That countries with relatively few natural resources have more economic growth because it's harder for first movers to take over and extract serious profits? Or that profits are distributed more equally and thus create incentives for everyone to work? I wonder if there are some other social analogies that we can draw: It's always the "not-so-handsome" guys that do well after high school. They have to work harder to be successful. Whereas those that had things handed to them do not learn to make their own success. Just an idea. Although I don't think it completely captures the essence of the argument, it's an interesting thought. What does the “curse” imply?

That countries with relatively few natural resources have more economic growth because it’s harder for first movers to take over and extract serious profits? Or that profits are distributed more equally and thus create incentives for everyone to work?

I wonder if there are some other social analogies that we can draw: It’s always the “not-so-handsome” guys that do well after high school. They have to work harder to be successful. Whereas those that had things handed to them do not learn to make their own success.

Just an idea. Although I don’t think it completely captures the essence of the argument, it’s an interesting thought.

]]> By: Joe S. http://healthblog.ncpa.org/who-owns-the-world%e2%80%99s-oil-government/comment-page-1/#comment-64545 Joe S. Thu, 27 May 2010 17:19:36 +0000 http://www.john-goodman-blog.com/?p=10833#comment-64545 This table gives a whole new meaning to the term "big oil." This table gives a whole new meaning to the term “big oil.”

]]> By: Ken http://healthblog.ncpa.org/who-owns-the-world%e2%80%99s-oil-government/comment-page-1/#comment-64543 Ken Thu, 27 May 2010 17:06:54 +0000 http://www.john-goodman-blog.com/?p=10833#comment-64543 Devon, it's called the curse of natural resource wealth. Devon, it’s called the curse of natural resource wealth.

]]> By: Devon Herrick http://healthblog.ncpa.org/who-owns-the-world%e2%80%99s-oil-government/comment-page-1/#comment-64536 Devon Herrick Thu, 27 May 2010 16:05:15 +0000 http://www.john-goodman-blog.com/?p=10833#comment-64536 Look at the list of governments that own oil reserves and compare their degree of freedom. Numerous studies from development economics have found that abundant natural resources often allows repressive regimes to ignore their economy because they have a ready source of funds other than taxes. Look at the list of governments that own oil reserves and compare their degree of freedom. Numerous studies from development economics have found that abundant natural resources often allows repressive regimes to ignore their economy because they have a ready source of funds other than taxes.

]]> By: Nancy http://healthblog.ncpa.org/who-owns-the-world%e2%80%99s-oil-government/comment-page-1/#comment-64531 Nancy Thu, 27 May 2010 15:37:17 +0000 http://www.john-goodman-blog.com/?p=10833#comment-64531 I used to think Exxon was huge. All the protesters told us it was huge. Actually it is relatively tiny. I used to think Exxon was huge. All the protesters told us it was huge. Actually it is relatively tiny.

]]> By: Larry C. http://healthblog.ncpa.org/who-owns-the-world%e2%80%99s-oil-government/comment-page-1/#comment-64530 Larry C. Thu, 27 May 2010 15:35:49 +0000 http://www.john-goodman-blog.com/?p=10833#comment-64530 This chart says it all. Oil is controlled by governments. This chart says it all. Oil is controlled by governments.

]]>