This article argues that, in order to study the role of oil as a primary contradiction determining the mode of social reproduction of a global South country, it is fundamental to understand the role that oil has played in consolidating the US-led global order after the Second World War. Moving beyond methodological nationalism and regime type theories – especially rentier state theory – the article focuses on the case of modern Libya (1951 to the 1980s) and assesses how oil provided both opportunities and limitations for the development of the country’s national sovereignty. It promoted both globalisation and nationalism, colonial and decolonisation strategies, and adherence and resistance to imperialist policies. Ultimately, the article shows that, while oil resources can serve different national developmental programmes, the real curse for developing countries is the US-led imperialist structure. The latter is an inherently undemocratic system for socio-political formations in the global South, especially in the Arab region, whose developmental ambitions prioritised popular needs and regional integration over elite enrichment and Western dependency.
Capasso et al. (Thu,) studied this question.