By Dr. Mark J. Perry The chart below is from a Bloomberg article and shows that “Most of the world’s oil is produced in states that are undemocratic. The U.S., Canada and Norway are the exceptions.” The article refers to this 2009 research paper “Oil and Democracy Revisited” by UCLA professor Michael Ross whose findings include: a) “Oil wealth strongly inhibits democratic transitions in authoritarian states, and b) Oil’s anti-democratic effects seem to vary over time and across regions: they have grown stronger over time, but do not hold in Latin America. The mechanism…
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