Resource nationalism is the tendency of people and governments to assert control over natural resources located on their territory. The approach of peak oil 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. Resource nationalism conflicts with the interests of multinational corporations.
It is an economic policy that relies on state ownership or control of natural resources located on their territories to advance political, social or industrial objectives. This emphasizes that resourced belonged to the people and that state employment are the best managers of resources against privatization.
It emerged during the liberal period in latin america looking for independence of the country in terms of export and resources.
For example the Cochabamba water wars that was a series of protests against privatization that took place in Bolivia. As a result the power of the people forced the government to cancel the contract.
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