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CGD Policy Blogs

 

The Latest Oil-to-Cash Battleground: Juneau, Alaska

One of the nearest real-world examples of Oil-to-Cash is Alaska, which has paid an annual dividend to every state resident since 1982. One of the presumptive lessons drawn from Alaska’s experience has been that once a dividend was in place, political forces aligned to protect it from politicians. Yet last week, Alaska Governor Bill Walker announced the first-ever cut to the Alaska Permanent Fund dividend.

Cashing In on Coal

India is getting some serious cash from coal. According to official estimates, the government will get nearly $250 billion in revenues over a period of 30 years from the sale of over two hundred coal blocks to private bidders. Given India’s record of corruption and mismanagement of natural resources, it is difficult to be optimistic that it will be able to cash in on this windfall and use it for development. But there are a few silver linings that may prove us (happily) wrong.

Dodd-Frank, the EU, and the Resource Curse

British Prime Minister David Cameron’s op-ed  in the Wall Street Journal lays out his anti-poverty vision. As my colleague Todd Moss notes, this type of serious, top-down and bottom-up debate about development issues doesn’t make the US look especially good by comparison.

Implementing Oil-to-Cash – Todd Moss

When a poor country finds oil, bad things often get worse. Countries rich in extractable natural resources, especially oil, frequently suffer from crummy governance, high poverty, endemic corruption and conflict. Is it possible to beat this oil curse? My guest on the Wonkcast this week, Todd Moss, CGD vice president for programs and senior fellow, says yes. He argues that a government that transfers some or all of its oil revenue to citizens in a universal, transparent, and regular taxable payment, could strengthen the social contract, fight corruption, and lay the foundation for future prosperity.

Libya: Can Oil and Democracy Mix?

Libya’s oil puts at risk its hopes of becoming a democracy.  If easy oil money is captured by a few people, and they then control politics, Libya will end up  looking more like Angola and less like Norway. 

The Gulf Gusher & Africa’s Offshore Oil Boom: Todd Moss and Vijaya Ramachandran

Todd Moss & Vij RamachandranAs the BP well in the Gulf of Mexico continues to spew thousands of barrels of oil each day, media attention has been focused on the toll on nearby economies and ecosystems and on the U.S. political response. On this edition of the Global Prosperity Wonkcast, we look beyond the Gulf of Mexico to explore what implications America’s biggest environmental disaster might hold for the new offshore oil boom getting underway in Africa.

Attack on The Oil Curse in Nigeria!

Nigeria is proposing to transfer a 10 percent stake in the national oil company to delta communities; citizens of the delta would then be entitled to cash benefits, delivered through a trust-type mechanism. Read about it here.

That would be a real live breakthrough on a good idea proposed in CGD papers for Iraq and Ghana.

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