Reframing resources and public goods: an integrative approach to natural resources security at regional scale (2024)

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As improved but often more environmentally-obtrusive technologies such as hydraulic fracturing facilitate the extraction of billions of dollars in natural resource wealth, more states are now faced with a welcome but exceedingly complex set of problems: Who should benefit from natural resources extracted from public lands? If the state retains much of this wealth in the form of tax receipts, how should these funds be spent? What do states owe to the communities from which these resources were extracted? What do states owe to future generations? While these are questions of first impression for a few, fortunate states, a number of states have been trying to address these issues for decades, and have enacted a variety of responses that have crucial implications for the states, their citizens, and their natural environments. This article proceeds by providing in Part I historical background on the crucial legal developments which allowed state public natural resource funds to develop. In Part II, the article turns to the first of the two central questions by introducing the principal policy justifications of state public natural resource funds through a review of the stated objectives of the funds, the funds’ governance and distributions mechanisms, the role the funds play in state policy making and budgeting, and the aspects of federalism implicated by the state funds. Part III then analyzes the operations of the funds in light of the policy justifications identified in the article. The article concludes by showing how governance weaknesses often limit the effectiveness of funds in achieving their policy goals, and suggests ways in which states can create appropriate legal and governance structures to enhance their funds’ effectiveness.

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Our intention is to inspire management scholars to take up the “grand challenge” to provide strategic and managerial insights in conversations and debates that have so far been held by policymakers, economists, natural scientists, and engineers. As organizations’ objectives can diverge from those of governments, citizens, and stakeholders, the interplay between corporate decisions, institutional and regulatory actions, societal pressures, and important externalities of extractive processes provides an exciting context for theoretical and empirical research. We provide examples of how natural resource scarcity is challenging businesses, governments, and industries at large to innovate technologies and business models, compete in natural resource markets, and collaborate across industrial, national, and cultural boundaries.

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NOT ANOTHER NEXUS? CRITICAL THINKING ON THE NEW SECURITY CONVERGENCE IN ENERGY, FOOD, CLIMATE AND WATER

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In recent years, the notion of the nexus has gained immense traction in the domain of natural resource governance. It has captured high interest across academic, policy and popular debates, and has become the defining vocabulary to understand the interlinkages between land, water, food and climate. Driven by the alarmist rhetoric of uncertainty and scarcity, the nexus thinking is often couched in the language of security. This paper focuses on critical perspectives on the securitization of water, land, food, energy and climate change debates and the implications of the nexus for policy making and natural resources management. What are the drivers of this nexus re-thinking? Who is driving this debate of the nexus and to what ends? What do these debates tell us about the character of the development ‘industry’ and the political, ideological and institutional logics operating within it? What are the challenges of this nexus formulation, what spaces may open up for addressing issues of equality and justice? In October 2012, the STEPS Centre and SOAS organised a colloquium that set out to explore and address some of these questions. This paper draws on the critical insights from this meeting and explores some of the fundamental ways to unpack the nexus formulation and address the challenges therein.

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Reframing resources and public goods: an integrative approach to natural resources security at regional scale (2024)
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