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Problems of good governance in extractive industries
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Follow the money: a guide to monitoring budgets and oil and gas revenues; Shultz, Jim
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Follow the Money provides practical information on how citizens of resource-rich countries can become effective monitors of government earnings and expenditures. It summarizes the experiences of some of the most successful budget groups in the world. Representatives of these groups came together at Central European University in April 2004 to discuss what it takes to succeed in monitoring government management of public money. The workshop was organized by OSI in partnership with the Center for Policy Studies at Central European University and the International Budget Project. Follow the Money is the first in a series of guides to be published by OSI's Revenue Watch program targeting different audiences—nongovernmental organizations, journalists, investors, and policymakers—in an effort to help these stakeholders promote government transparency and accountability.
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Caspian oil windfalls: who will benefit?; Tsalik, Svetlana
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This report, urges foreign oil companies, their home governments, and international financial institutions to promote good governance and democracy in Azerbaijan and Kazakhstan to ensure that petroleum revenues generate social prosperity and stable governments. Oil booms in the Caspian Basin are expected to make Azerbaijan and Kazakhstan important new energy suppliers for the United States. But the report warns that the lack of good governance and democracy in the two countries could make them less reliable partners. Without systemic reforms in the management of oil revenues, the report says, the money beginning to flow into the countries will not result in healthy, long-term economic growth, higher living standards, and more freedom for the countries' people. Instead, it likely risks being squandered on pet projects or domestic enterprises that do not lead to growth while the majority of citizens remain poor and powerless. The governments of Azerbaijan and Kazakhstan should consider creating citizens' advisory councils such as the ones set up in Alaska after the Exxon Valdez oil spill. The councils would monitor the oil industry and the government budget, and provide information to the public, giving citizens a voice in hydrocarbon development. Caspian Oil Windfalls analyzes the systems Azerbaijan and Kazakhstan use to manage their oil wealth. It offers recommendations to the governments of Azerbaijan and Kazakhstan, multinational oil companies, international financial institutions, and foreign governments for promoting accountability, transparency, and public oversight in the management of oil and natural gas revenues. The report includes 10 case studies on natural resource funds in other countries as well as models of citizen oversight.
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Covering oil – a reporter’s guide to energy and development; Tsalik, Svetlana and Schiffrin, Anya (eds.)
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For the vast majority of people in most resource-rich countries, natural wealth does not translate into prosperity, but instead leads to environmental and economic devastation, and hampers democratic reform. Only an informed public can hold leaders to account. Yet local reporting often overlooks the legal, economic, and environmental implications of resource extraction. This guide aims to encourage rigorous reporting on these issues by providing practical information about the petroleum industry and the impact of resource wealth on a producing country. It comes out of a series of organized workshops for journalists in the oil-exporting countries of Azerbaijan, Kazakhstan, and Nigeria, during which participants expressed a need for more information to help them understand the issues surrounding resource exploitation. ‘Covering Oil’ outlines the fundamentals of petroleum contracts, provides a glossary of relevant economic theory, and presents case studies of major public policy issues.
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Towards an Improved Governance Agenda for Extractive Industries. Culverwell, M. et.al., London: Royal Institute of International Affairs, 2003.
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The paper is a report of the workshop organized by the Royal Institute of International Affairs on the topic of “Sustainable Relationships: Financing and Monitoring Responsibilities”. Central part of the document is dedicated to the issues of the socio-economic and environmental aspects of sustainable
development and developing the strategy of including extractive industries in the participatory processes in relation to creating and implementing development agreements through close cooperation between relevant “stakeholders”, involving business and other development actors.
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“Extracting Transparency,” Goldwyn, D.L., Georgetown Journal of International Affairs 5 (2004): 1, 5-12
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Central topic of the paper is the problem of increasing transparency of extracting industries in the developing countries. Author focuses on impact of energy infrastructure on political stability and argues that the more the developed countries assist the domestic communities where the extracting industries originate the more would be the level of accountability. The central point of the paper is development of new infrastructure as a guarantee for financial stability of the developing nations that would potentially benefit from development of extracting industries on their territory. In order to be effective, extractive industries operating in the developing countries should ensure that civil society is well informed about the costs and benefits it will receive as a result of operation of the energy sector, as well as governments are open about the revenues they receive.
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