Petrostate Pathologies

Environmental impacts of gas and oil development

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Unformatted text preview: lot when oil prices were high. Lending institutions will definitely loan money to oil countries…? ! you have the opportunity to steal from the future as well as the present. Measures of Quality of Life to see if Friedman was correct: 2002 - 2011 Corruption Perceptions Index: rankings decreased Freedom House: freedom stayed the same or decreased HDI: increased!! Sooooo economic development increases, freedom decreases, but you don’t get a lot of pushback because people are better off. How to avoid oil problems: Build institutions before you discover oil which will cut back from the repression temptation Create budget Build sovereign wealth fund Transparency in production information Reinvest some of your capital in oil **ask library about lexusnexus – industry documents next week: few paragraphs no longer than one page on what to research. Environmental impacts of gas and oil development: Cuttings, drilling mud, “p...
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