Resource nationalism is the tendency of people and governments to assert control over

natural resources Natural resources are resources that are drawn from nature and used with few modifications. This includes the sources of valued characteristics such as commercial and industrial use, aesthetic value, scientific interest and cultural value. ...

located on their territory. As a result, resource nationalism conflicts with the interests of

multinational corporation A multinational company (MNC), also referred to as a multinational enterprise (MNE), a transnational enterprise (TNE), a transnational corporation (TNC), an international corporation or a stateless corporation with subtle but contrasting senses, i ...

s. The approach of

peak oil Peak oil is the hypothetical point in time when the maximum rate of global oil production is reached, after which it is argued that production will begin an irreversible decline. It is related to the distinct concept of oil depletion; whil ...

has led many governments to take ownership or control of fossil fuel reservoirs for strategic and economic reasons, although resource nationalism applies to other resources, such as metals, or in less developed nations, mining investment. It is mainly enforced as an economic policy (usually in

populist Populism refers to a range of political stances that emphasize the idea of "the people" and often juxtapose this group against " the elite". It is frequently associated with anti-establishment and anti-political sentiment. The term develop ...

governments) that relies on state ownership or control of natural resources located on their territories to advance 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 The Cochabamba Water War was a series of protests that took place in Cochabamba, Bolivia's fourth largest city, between December 1999 and April 2000 in response to the privatization of the city's municipal water supply company SEMAPA. The wave ...

, a series of protests against privatization of the city's water supply that took place in Bolivia. As a result, less than six months later the government cancelled the contract. Governments that have adopted elements of resource nationalism include Bolivia under

Evo Morales Juan Evo Morales Ayma (; born 26 October 1959) is a Bolivian politician, trade union organizer, and former cocalero activist who served as the 65th president of Bolivia from 2006 to 2019. Widely regarded as the country's first president to c ...

Argentina Argentina (), officially the Argentine Republic ( es, link=no, República Argentina), is a country in the southern half of South America. Argentina covers an area of , making it the second-largest country in South America after Brazil, th ...

under

Cristina Fernández de Kirchner Cristina Elisabet Fernández de Kirchner (; born 19 February 1953), often referred to by her initials CFK, is an Argentine lawyer and politician who has served as the Vice President of Argentina since 2019. She also served as the President o ...

, and

Venezuela Venezuela (; ), officially the Bolivarian Republic of Venezuela ( es, link=no, República Bolivariana de Venezuela), is a country on the northern coast of South America, consisting of a continental landmass and many islands and islets in th ...

under Hugo Chávez.

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Further reading