Energy Ownership

Abstract

Many developing countries loudly proclaim that their citizens ‘own’ the resources under them, but the reality is a very different story. Vast amounts of oil and commodity resources spirited out of the country via elite enablers into developed countries’ shopfloors and financial systems show that a ‘neo-colonial’ mindset still exists under the veneer. Perhaps a better way to address this construct in the Information Age is in changing the denominator of the nation-state from the past 350 years and reconsidering it's relevancy today. The Westphalian nation-state in 1648, precluded by the Magna Carta in 1215, was about protecting elite interests within tightly defined physical borders. It never portended to represent the common man’s or public interests. In today’s globalized world, decisions made in one country can immediately impinge and spillover into a neighboring country or an entire region. Many people, not just elites, are effected with threats to their living standards, physical security, air they breathe, and water they use. The Information Age disseminates knowledge quickly, and a new policy structure is needed to channel many voices on these issues. People begin to expect their ownership rights in their natural resources will be honored, either tangibly via fuel subsidies or intangibly via better health care, education, and institutions (i.e. HRD).