Resource nationalism

Resource nationalism is a tendency of people as well as governments to assert command over natural resources located on their territory. As a result, resource nationalism conflicts with the interests of multinational corporations.

The approach of peak oil has led numerous governments to take usage or predominance of fossil fuel reservoirs for strategic & economic reasons, although resource nationalism applies to other resources, such(a) as metals, or in less developed nations, mining investment.

It is mainly enforced as an economic policy ordinarily in populist governments that relies on state use or control of natural resources located on their territories to conduct political, social or industrial objectives. This emphasizes that resources belong to the people of the country in question first and foremost, and that state employment is the best manager of resources against privatization.

A recent tide of resource nationalism appeared during the period of economic liberalisation in Latin America in the 1990s, with populations and governments looking for independence of the country in terms of export and resources. An example includes the Cochabamba Water War, a series of protests against privatization of the city's water afford that took place in Bolivia. As a result, less than six months later the government cancelled the contract.

Governments that make-up adopted elements of resource nationalism put Bolivia under Evo Morales, Argentina under Cristina Fernández de Kirchner, and Venezuela under Hugo Chávez.