Drafting a Charter to Guide the World's Use of Natural Resources
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The Revenue Watch Institute is collaborating with a team of economists and legal and environmental experts to draft an international Natural Resource Charter. This pioneering document offers resource-rich societies a vision and a blueprint for the future of their country's natural resource sector. The most important audience for this document will be policy makers in resource-rich countries, but industry, intergovernmental organizations, citizen groups, and importing states are also key players in the decisions that determine the outcome of a society's attempt to harness resource wealth.
Oil, gas and mining resources can be a blessing or a curse: They can ensure prosperity for current and future generations or they can trigger chaos and decline. These resources are non-renewable, volatile in price and may require long-term commitments of capital and technology. Although successful exploitation entails a complex set of policy decisions, there are certain practical considerations that can help ensure that these resources contribute to social and economic development for the country.
The economists, lawyers, political scientists and other experts drafting the Charter do not represent any institution or special interest. We share the belief that natural resource wealth can be a powerful tool for social and economic advancement, but only if countries are able to meet some special challenges. The Charter offers guidance on core government decisions regarding natural resources, from the decision to extract through to the uses of resource revenues.
Among the leaders drafting the Charter are Revenue Watch director Karin Lissakers and RWI board members attorney Joseph Bell, Prof. Paul Collier of Oxford University, Prof. Thomas Heller of Stanford University and Prof. Michael Ross of UCLA, as well as Prof. Tony Venables of Oxford University, Prof. Robert Conrad of Duke University and economist and Nobel laureate Michael Spence.
The Natural Resource Charter is a work in progress and all those interested are asked to participant in its revision and completion. Please learn more and contribute to the transparent and inclusive process of creating a new draft at www.NaturalResourceCharter.org.
U.S. Said to Allow Drilling Without Needed Permits - The New York Times
Australia Gas Deal Renews Tension - Financial Times
Charged With Fraud, Nigeria's Ruling Party Leader Resigns - Reuters
Western Senators Propose Ban on Pacific Drilling - The New York Times
To Limit Corruption around Mining in Africa, Follow the Money - The Globe and Mail
Court Backs Oil Project - The New York Times
Transparency Increases, But There Is Still a Long Way to Go - The Phnom Penh Post
IMF Develops Project to Help Africa Deal with Illicit Trade - African Manager
Three-day Conference on Africa's Natural Resources Starts in Tanzania - Standard Times Press
After Oil Rig Blast, BP Refused to Share Underwater Spill Footage - ABC News
Finger-Pointing, but Few Answers at Hearings on Drilling - The New York Times
Complaints Over U.N. Prize Sponsored by Equatorial Guinea's Obiang - Reuters
Guide: Community-Company Grievance Resolution for Australian Mining Industry - Oxfam Australia (pdf)
Cote D'Ivoire: President for Life, and Then Some - The New York Times
In Midst of Massive Spill, Oil Industry Fighting Transparency and Accountability - Oxfam America
Leaked Oil Contracts in DRC Threaten Resource Wars and $10 Billion Rip-Off by British Company - Carbon Web
Contracts Confidential: Ending Secret Deals in the Extractive Industries
Contract transparency is sorely needed to improve the management of natural resource wealth. In a new report from RWI, authors Peter Rosenblum and Susan Maples delve into government and private sector objections to contract disclosure and make conclusions about what information may legitimately and reasonably be kept confidential, and how civil society institutions can better confront the challenge of secret deals.
Learn more about the report ...
NEW TRANSLATION: Revenue Redistribution at the Local Level
Many resource-rich countries are attempting to compensate their producing regions through shares of resource revenues to be spent at the local level. In "Extractive Industries Revenues Distribution at the Sub-National Level," development economics consultant Matteo Morgandi presents a comparative analysis of international legislation for distribution of extractive revenues from across all levels of government. Prepared at the request of the Peruvian National Congress, the report studies the legislative practices of seven resource-rich countries to identify potential and address challenges. Please note that this report is now also available in Vietnamese.
Learn more ...