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Rosemarie Forsythe’s slides for the Management Committee implied that more and more of the world’s oil happened to be located in unstable countries, more or less coincidentally. A growing body of academic research suggested that oil production was likely a cause of their instability.
Interesting
Essentially, the resource curse described a condition within governments similar to what happens to many individuals after they win the lottery. When nations became enthralled by the short-term riches offered by a finite national resource, capital and talent often migrated away from more productive and self-sustaining economic sectors such as agriculture.
Resources curse
The highest risk scenario, Le Billon found, was one involving “onshore production, institutionally weak central government, generating low rents per capita, with high level of dependence on the oil sector.”
ExxonMobil, Chevron, Shell, BP, Total, and Statoil—had
