The State and the Oil Industry in Today's World: Some Lessons for Puerto Rico

Abstract

This paper deals with a topic on which I have written and worked for many years as an economic consultant to governments of underdeveloped countries and states in the United States. This topic has enormous implications for the future of many underdeveloped countries, and not least for Puerto Rico. Accordingly, the focal point will be the potential and actual role of governments of underdeveloped countries in the area of oil exploration and development, and the lessons that can be drawn for Puerto Rico.

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