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Another is overdependence on the hydrocarbons sector, which generates 90% of state revenues.
The 2005 economic expansion was led by strong growth in the mining and hydrocarbons sector, which rose 8.65percentt in the full year.
Algeria, a major gas and oil producer, is heavily reliant on the hydrocarbons sector, which accounts for 60% of its budget revenues.
On March 29, the pro-Maduro Supreme Court issued a sentence usurping the Assembly's powers as well as awarding the executive the authority to rewrite strategic legislation in the hydrocarbons sector.
The skills and facilities of the hydrocarbons sector – many of whom are our alumni – are indispensable to the development of carbon capture and storage (CCS), without which the Intergovernmental Panel on Climate Change considers there is no chance of the world achieving emissions reduction targets.
The whole energy debate, already highly charged, has also become a proxy battle for political advantage.The PRD's main leader and its former presidential candidate, Andrés Manuel López Obrador, has spearheaded opposition to an opening of the hydrocarbons sector, charging that it is a form of privatisation of Mexico's most important natural-resource industry.
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Despite efforts to move the economy away from dependency on oil, the majority of the government's revenues come from the hydrocarbon sector.
That may well be why, for example, the former UK Conservative leader Michael Howard led a group of British businessmen to seek investment opportunities in Eritrea's hydrocarbon sector in March 2014.
Indeed, Dubai is arguably the only Arab economy that has achieved substantial integration into the global economy outside the hydrocarbon sector and has emerged as a premier tourist and business destination across the globe.
But, he added, "It's always the case that Lebanon is embroiled in its own political morass, so they need to work through that and get working on developing their hydrocarbon sector".
That presents an ongoing challenge for regional policy makers in the Gulf, where the hydrocarbon sector can make up as much as 80 percent of government revenues, he and others noted.
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