Solved: Many people say that natural resources like oil and

minerals
Many people say that natural resources like oil and minerals

Many people say that natural resources like oil and minerals are the way to prosperity. Indeed,
in an old cartoon by Matt Groening, creator of The Simpsons, a professor taught his students,
“The nation that controls magnesium controls the universe!” But natural resources have been
left out of this chapter completely. Is this a big mistake?

a. Here are the 10 countries in the world that have the highest amounts of hydrocarbons (oil,
natural gas, etc.) per person, in rank order:

1. Kuwait

2. United Arab Emirates (UAE)

3. Saudi Arabia

4. Iraq

5. Norway

6. Venezuela

7. Oman

8. Iran

9. Trinidad & Tobago

10. Gabon

Use the CIA World Factbook, a convenient online source of information, to see if most of these
countries are prosperous. How many of these 10 countries have a GDP per person that is at
least half of the U.S. level? How many are less than 10% of the U.S. level? Are any actually
higher than the U.S. level?

b. Now, let’s look at the reverse: Let’s see if the 10 richest countries in GDP per capita have a
lot of hydrocarbon wealth:

1. Luxembourg

2. United States

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 3. Singapore

4. Hong Kong

5. Norway

6. Australia

7. Sweden

8. Canada

9. Denmark

10. Japan

The one country on both lists also makes another list in this chapter. Which one is it?

Many people say that natural resources like oil and minerals

ANSWER
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