Governing Natural Resources Wisely
Thursday, May 23, 2013
Handout picture taken onboard drilling rig Aker Barents in the Barents Sea, where Norwegian oil firm Statoil has made a new oil find, Havis, January 9, 2012 (Harald Pettersen/Statoil/Courtesy Reuters).
The Revenue Watch Institute has just released its 2013 Resource Governance Index and accompanying report, measuring countries’ transparency and accountability in the governance of oil, gas, and mining on four criteria: legal framework, transparency levels, checks and balances, and the broader governance context. The Index assesses fifty-eight countries—which together produce 85 percent of the world’s oil, 90 percent of diamonds, and 80 percent of copper. Of the fifty-eight countries studied, forty-seven were found to fall short on basic standards of openness and accountability.











