ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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Challenging the ‘Resource-Curse’ Model in Bangladesh

Natural Resources and Energy Security

This article examines myth and reality vis-à-vis natural resources and energy security in peripheral economies, with special focus on Bangladesh. It highlights the fact that resource abundance does not automatically translate into development; countries like Bangladesh suffer because of their local hegemonic rulers and global alliances which, in the name of development, extract disproportionate private profits from common property through the use of corrupt practices and skewed policies. The article also insists that natural energy resources should be considered common property, and in order to make development meaningful and sustainable should remain so. Planned development of the national capability is an essential precondition to maximise the potential use of natural resources. In the context of Bangladesh, a ban on exporting mineral resources and open-pit mining is also necessary to ensure energy security and sustainable development. It concludes that energy-sovereignty is the key to energy security, and therefore to sustainable development.

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