President Trump at the first cabinet meeting of his second term
Letter from the US: Trumpism threatens oil producers’ survival
Well-functioning democracies are required for healthier economies and a thriving oil industry
Few oil-exporting nations can be labelled democracies. Oil- and mineral-exporting nations work best as autocracies. On the other hand, research by the Nobel-prize-winning economist and MIT professor Daron Acemoglu and three co-authors has showed that long-run per-capita GDP increases by almost 20% when a nation transitions from autocracy to democracy, while declining by a similar amount when an autocrat attains control. The Trump administration’s takeover of the US government has put the country on the path to autocracy. The democratic institutions under which presidents, members of the House of Representees and the Senate—along with the judiciary—have operated for more than 200 years are be
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