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Congress must debate offshore drilling on its own merits without using resource revenue to buy votes.
"They can either invest their natural resource revenue in people to generate jobs and opportunities for millions in present and future generations," said the panel.
At CGD, I co-authored a book on natural resource revenue management, Oil-to-Cash: Fighting the Resource Curse through Cash Transfers.
Alberta once led a long and heated constitutional battle to retain all of its natural resource revenue and it shows no signs of changing its mind about that issue.
Because they are living in what colleagues at the Overseas Development Institute have termed an age of choice, in which many more external financing options are available to them, both private and public, to complement a vast expansion in domestic resource revenue in many countries.
Relying on resource revenue transparency as a major step for better governance in this context would be naïve.
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You're misspending your natural resource revenues.
For smaller, landlocked countries, dependent on aid-flows or natural resource revenues, governance is critical.
"In many African countries, natural resource revenues are widening the gap between rich and poor.
There are calls now for the UK to extend its transparency efforts beyond aid to cover natural resource revenues, infrastructure and international corporate transparency more broadly.
"The bank can try to influence management of those natural resource revenues, but it doesn't have that much leverage," he said.
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