This open access book provides a comprehensive synthesis of the vast academic literature on the so-called “Resource Curse,” enriched with empirical analysis and a wide array of global case studies.

Why do countries endowed with abundant oil, gas, and mineral wealth so often fall short of their economic potential and the expectations of their citizens? This book offers a compelling and deeply informed exploration of this enduring question.

This book examines how the exploitation of natural resources can distort economies, entrench political dysfunction, and hinder sustainable development. Yet, it also highlights the opportunities that lie ahead for resource-rich countries—particularly in the context of the global energy transition toward a net-zero future. It offers practical policy recommendations to help resource-rich countries avoid the pitfalls of the past and seize the opportunities of a rapidly changing energy landscape.

The author—drawing on over three decades of experience in national and international energy policy—brings a unique insider’s perspective, shaped by his work with the Dutch government and international organizations. Author’s personal reflections and professional insights illuminate the complex interplay between economics and politics in resource governance.

This book is an essential read for policymakers, economists, energy professionals, and scholars seeking to understand the future of resource-rich economies in a decarbonizing world.

Noé van Hulst is an International Energy Expert with more than 30 years of policy experience, including as Director-General for Energy in the Netherlands, Director of Policy Analysis at the IEA in Paris, and Secretary-General at the IEF in Riyadh. He has also been Director of the European Energy Academy in Groningen and Ambassador of the Netherlands to the OECD and IEA, as well as Chair of the IEA Governing Board, Chair and vice-Chair of the IPHE and Hydrogen Envoy for the Netherlands. He is currently Hydrogen Advisor to the IEA and Gasunie, member of the IEA Technology and Innovation Advisory Board (TIAB), Senior Fellow at the Centre for International Energy Policy (CIEP), and Fellow at the Payne Institute for Public Policy of the Colorado School of Mines.