This presentation will discuss the myriad ways that oil and gas producing nations practice resource nationalism in the legal, political, and economic realms. “Resource nationalism” is not amenable to a single workable definition. Yet, there is the common understanding that resource nationalism, as with any other form of protectionism, feeds off the public’s misgivings about foreign involvement in a strategic sector. Lurking behind calls for enhanced host country control over natural resources are allegations of “neocolonialism” and “imperialism” perpetrated by the Global North on the resources of the South.
This presentation will examine the history of resource nationalism, from its origin in Spanish colonial philosophy to its more modern articulations. While resource nationalism covers a broad range of commodities, special focus will be given to the energy sector. Particular attention will also be paid to whether resource nationalism is simply a cyclical phenomenon that ebbs and flows in conjunction with the international pricing framework of oil and natural gas. The presentation will also review various past and present energy cartels to analyze how successful they have been and whether a new model is needed.
