One of These Islands Found Oil, The Other Got Rich

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How Sao Tome (thought) it found a mineral jackpot, it ended up hurting the country. Cabo Verde proves that point.
Sources: pastebin.com/pTqcZcaQ
Read the paper here: pedrovicente.org/wp-content/u...
Twitter: / h0serr
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[@h0ser]

To try everything Brilliant has to offer for free for a full 30 days, visit brilliant.org/hoser. You’ll also get 20% off an annual premium subscription.

[@djw7141]

nice vid

[@nearlyforgot122]

hi

[@pyeitme508]

RAD!

[@laptv2144]

You really went all out with the editing having Baianá playing softly in the background. I love that song

[@johnmichael734]

Why nightcrawler instrumental?

[@pollochef5225]

"If you find oil in your yard, don't even let your wife know about it" -someone smart probably

[@bababababababa6124]

Someone should have told Guyana this…

[@mnm5165]

@@bababababababa6124and Venezuela, Angola, East Timor, I could go on

[@catdogmousecheese]

So you're saying The Beverly Hillbillies lied to us?!

[@hamzamahmood9565]

Freedom gang will find out before your wife

[@lebollsong]

Don't let any "eagle" fly past that either, 🦅

[@asdaneedsfunds]

I've been to Cape Verde. It has one thing going for it that Sao Tome can never have - short haul tourism flights from wealthy European countries.

[@mnm5165]

It’s geographical proximity to Europe and North Africa definitely gives it the edge over Sao Tome. The only major economy close to Sao Tome is Nigeria, and I’m sure most Nigerians probably don’t even know they exist 💀

[@puraLusa]

​@@vardekpetrovic9716one thing missing in ur coment: do sao tomens want such plan?

[@kaidanalenko5222]

Europe are richer, more stable and have more attractive looking pppl meanwhile iafrica is completely opposite, unfair

[@puraLusa]

@@vardekpetrovic9716 220 000 in the 2023 estimate from wiki. I've been to sao tome, wonderful people. The island is offers plenty of food as is. So, they are poor but don't lack food and shelter. They also need to decide from the various models available which suits best for their aspirations. Sometimes people prefer to not get rich and keep the paradise (the island is a paradise of natural beauty) for themselves. Foreigner might come as rude to them (they have a very polite and proper way culturally). So, I don't know, I just know is fully up to them, thru their democratic institutions to decide.

[@puraLusa]

@@vardekpetrovic9716 still their problem. It's a small group of people, they mostly know each other as if aquaintance, like a small city. If there is corruption is because they allow it. When there was an atempted coup (aux par with the ones felt in other parts of africa recently), the citizens took to the streets and blocked the coup guys from usurping the elected power seats. The only thing I can add that isn't in their hands is portugal, angola and brazil medeling, mostly portugal (also with their own respective corruption). It's a situation like iceland, so few people that it's almost possible to contact politicians via simple phone call.

[@mikhailpoplavskiy311]

Portraying Mexico as an axolotl is a stroke of genius

[@will.g9277]

Why

[@outofideas9985]

Isn't it the national animal

[@will.g9277]

@@outofideas9985 ni

[@garedmorort]

@@outofideas9985No that’s the Golden Eagle, is right in the middle of our flag

[@evildead5077]

@@outofideas9985not but it’s native to only Mexico

[@Ingcivilcarlos]

Venezuelan here, can't believe how similar the playbook played to our country lol except they didnt even find the oil, insane

[@niyanlan8928]

Genuine question here my friend, as Venezuelan, what does the average Venezuelan genuinely think about taking over Guayana? I don’t mean any disrespect or anything like that, just genuinely interested. Peace be with you.

[@Ingcivilcarlos]

@niyanlan8928 short version is that we believe the terrotory is venezuela's to claim. Long version is that Venezuelans have been told growing up the territory of Guyana esequiba belongs to Venezuela, It's in every history textbook as a zone in reclamation. The history of that claim goes back centuries, the lines were drawn pretty arbitrarily by the British right over existing venezuelan territorial claims, and in further litigations we ended up being cheated out of that land in the early 1900s. My understanding is we had agreements with Guyana not to exploit the resources of the zone until the claims were resolved but the Guayanese government. Breached those agreements. That's why Venezuela is so pissy about it and could potentially go to war for it. Venezuelans don't know war and are right now in a horrible position so I doubt that would happen and we would just have to resign to the claim.

[@niyanlan8928]

@@Ingcivilcarlos that’s really interesting to hear. I suspect such things don’t get reported fairly outside South America and it’s really good to hear what people actually believe. Stay safe and take care.

[@alex_zetsu]

A lot of petrostates go through something like what your country did (only they tend to have their worst inflationary periods have averages of 30% most of the time, sometimes reaching 1000% for the less competent states, but nothing like the Bolivar's drop in value) but usually they need to find the oil to start the same playbook.

[@eVill420]

@@niyanlan8928 well maybe they aren't listened to because the people of Guyana Essequibo are the ones who should be asked, considering, you know, they live there. Not to mention, Venezuela used to accept Guyana's independence in the past. they just changed it and rewrote the history books

[@bruhmoment2979]

This is probably the most attention my country will ever get from the Internet. Thanks hoser!

[@vneezy]

Viva São Tomé e Príncipe!

[@blackcoraltv6787]

You guys are lucky. My country is on the Internet 24/7, too much attention. Sick of it

[@leadmaxwellarco2574]

prob the USA​@@blackcoraltv6787

[@professionallyboring745]

@@blackcoraltv6787 let me guess, japan

[@Cardstock1321]

Cabo verde is almost always ignored...

[@sdk2571]

Babe, wake up, Hoser uploaded. It's time to learn about the crippled state of world geopolictics and geoeconomics.

[@59wulf]

oh yeah time to watch this while in the restroom

[@whatsup7033]

Pooping on company time my brother

[@59wulf]

@@whatsup7033 that's exactly how it's done 🤙

[@perceivedvelocity9914]

Yup, I can relate.

[@UnchartedArnold]

Boss gets a dollar, i get a dime, thats why i poop and watch h0ser on company time

[@urbanoteal6334]

Same here chief

[@outofideas9985]

I like how a lot of countries are portrayed as their national animals, its silly and better then countryball images

[@blankblank1949]

>Without stifling innovation >Show australia

[@tomlxyz]

What about them?

[@harrygroundwater2590]

@@tomlxyzno innovation

[@darkbrightnorth]

@@harrygroundwater2590Australia has some of the best innovation in the world. And a strong economy. Maybe the US or Canada would be better to show but still Australia isn’t bad.

[@me0101001000]

@@harrygroundwater2590 in my industry (energy conversion and storage), Australia is doing just fine when it comes to innovation.

[@satyasankalpapanigrahi9416]

@@darkbrightnorth what innovation Australia did...!! Name some of them

[@sowth1967]

“Wait… it’s all geography” Hoser: *Always has been*

[@gonkal0]

<a href="#" class="seekto" data-time="767">12:47</a> I'm Portuguese and bro literally posted this video on the 50 years celebration of the 25 de Abril or Carnation Revolution

[@pedroganempire]

me too brudda

[@thailux6494]

It's most likely not a stroke of luck. He knew what he was doing.

[@DOOM-2027]

Alot of people in the comment section have mentioned that. After i finish watching this i'll get informed about the Portuguese Revolution 5o year celebration.

[@WhatIsSanity]

haha that's so cheeky and I love it!

[@xenotiic8356]

My birthday is on such a cool anniversary? Awesome!

[@the_ratmeister]

Calling the Netherlands a 'resource poor nation' is just not correct. The Groningen Gas Field is the largest in Europe and was a huge part of Dutch economic growth throughout the 60s and 70s. You also mention Dutch disease about 3 minutes later...

[@nathanbullaft3445]

Facts

[@ayyygfym8245]

he also forgot about the dutch mental thorny tree branch stuck in the asshole

[@HaramBakkebaard]

Which caused the Dutch disease mentioned in the video. But tbh other than gas, clay and fertile soil we as a river delta in north-western Europe aren't the richest in natural resources.

[@theotherohlourdespadua1131]

It IS resource poor. Aside from Gas, what other resources does the Netherlands have that is valuable to the world economy?

[@GrandTerr]

Seriously? You have a gas field and that makes you resource rich? Hell nah.

[@alexanderveritas]

As far as we know, *Norway* is the only country that managed to thrive thanks to _petroleum_ instead of ending in corruption like the rest of the world.

[@nonbshd]

fr😊

[@Sneikki]

Guyana is actually growing a lot in a positive way after they found oil, knowing now exactly what the others did wrong. And now Venezuela wants to gobble them up for that.

[@martinmendl1399]

Malaysia

[@samuela-aegisdottir]

And that is only because of Scandinavia being basically a utopia. Nothing achievable for us mere mortals.

[@JoeRogansForehead]

USA

[@elmoudir1189]

lol I love how everyone is complaining that it took you so long to upload while my ass is sitting here with no complain cuz i just discovered your channel yesterday, I think I shouldn't get used to it then 😢

[@JmKrokY]

Nice

[@JmKrokY]

Ngl it's not even a long time, it usually takes him about 2-3 weeks to upload a video

[@Looksemberg]

I found him 6h after the Maldives video

[@Daulomani1]

He has been babe for a bit now for me. Always look forward to his videos as I listen to them as I work

[@pacomatic9833]

Channels that take the longest are often the best ones. My suggestion: Subscribe to tons of channels that make good stuff, some taking ages, others going often. That way there's rarely a shortage!

[@bababababababa6124]

As a Nigerian I’m happy our close neighbours Sao Tome is getting attention, nobody ever talks about them

[@satyasankalpapanigrahi9416]

Saotome is so small. Why Nigeria isn't helping them...

[@bababababababa6124]

@@satyasankalpapanigrahi9416Nigeria has our own problems, we need to help ourselves before we can help others. I hope one day we’ll be wealthy enough to help elevate our poorer neighbours

[@zenxel]

​@@satyasankalpapanigrahi9416 Our government doesn't even care about its citizens. The Northern half of our country is still overrun by terrorists despite how much aid the US has sent to us.

[@nuzayerov]

@@satyasankalpapanigrahi9416 , Nigeria has its own issues to deal with. Nigeria is huge and it has to take care of all its areas.

[@mark_IV.]

(just like half of the world)

[@mjr_schneider]

That has to be the biggest plot twist of any Hoser video. I saw that coming about as much as all those oil companies did.

[@riyanyazid2991]

Another example tiny ‘island’ petro state would be Brunei. Oil had been discovered and developed since early 20th century yet national progress had been so so slow.

[@JoeRogansForehead]

Cause the sultan needs his 150th Ferrari and 1 millionth instagram thot

[@falconsimon7726]

Video 1: Can you make a video about tragic economic history of Czechia and Slovakia and the second rise of Czechia in early 2000s? Anyway great video once again.

[@lontongstroong]

Not Slovenia Land!!! 😆 TBH recently I found out Not Slovenia Land, despite its comparatively low development base (to others in Central Europe), has been doing even better than Poland, which is often cited as post-Soviet success story. It’s been a sleeper success really.

[@samuela-aegisdottir]

Me: wathing interesting video about economics and its political, societal and geographical context. My brain the whole time: What animal would hoser choose to represent Czechia?

[@B_Van_Glorious]

Idk if everyone realizes just now energy dense a barrel of oil is, translated into calories it's 25months of working every single day, no days off distilled down into a black sludge. I can see why wars are fought over this, if one of those releaves me two years of labor I'd do a whole lot for it too.

[@abdia-lb2yx]

thats an interesting outlook

[@davidn4672]

🇨🇻CV mentioned 🎉

[@EuGeez]

Here before the thumbnail changes 9826 times

[@user-gw4oz1rk3i]

There are 2 lesson here. Number 1: dont put all of YOUR eggˋs in 1 basket! Number 2: dont count YOUR chickens til the eggˋs are hatched!

[@yux.tn.3641]

Cape Verde could consider developing its tourism industry and be like Canary Islands imo its not poor by African standards

[@nuzayerov]

Canary Islands have that sweet free Spanish money, which Cape Verde doesn't.

[@conserva-chan2735]

Both Cabo Verde and Sao Tome should've remained Portuguese. They would've become the Canaries and Reunion of Portugal respectively.

[@matiasguardaredes]

They do invest in tourism. Sal island is pretty much all resorts and hotels

[@Holttem]

@@matiasguardaredes Yea capo verde is a really beatiful place.

[@Game_Hero]

@@conserva-chan2735 Cabo Verde did just fine by itself.

[@swisscheese3405]

Been following this channel for a while now and I'd say that that's your best video yet! 👍

[@Etraudmf]

<a href="#" class="seekto" data-time="460">7:40</a> fun fact: Sonangol, the angolan company, usually just rents their allocations to other countries. They don't have the means to extract oil by themselves.

[@dateymintah9585]

So Africa what really is our problem. Speaking as a Ghanaian. I was optimistic when I saw the Sonangol bit but now you’ve ruined it. Can we be fixed at all?

[@brauliowagner4607]

That’s true I’m angolan

[@JoeRogansForehead]

@@dateymintah9585nope

[@NoWoke2099]

Thanks!

[@SandjyLima]

I wasn't expecting you to talk and even going in-depth about my homeland, Cabo Verde. We still have a lot to grow, but this video was a good representation of our country's situation ❤

[@mite_14]

The fact this video was posted in April 25th 🌹🇵🇹🇨🇻🇸🇹

[@ariii3625]

The first glimpe of this video i had was during my rrobotics class. We were watching videos with VR goggles when i took the phone out of the goggle, searched your channel and this video appared. Also, Cabo Verde and São Tomé and Príncipe are my favorite countries, which made this even better.

[@KennytheHedgehog619]

I have been checking the channel daily in hopes that there was an upload I missed, always love a new h0ser video!!

[@giselasilva5415]

I'm here in Portugal wishing all the best to my brothers ans sisters from Cabo Verde and São Tomé e Príncipe, I want to visit both places sooo much!!

[@camilohiche4475]

I love How Chile Is represented by a vizcacha

[@drainganggggbc2621]

verdad, no me había dado cuenta de eso jajsjajsj

[@CapnToad]

The best channel to learn about things😊

[@thegloriousryius]

FREEDOM. Freedom is a giant factor in a country's growth and well-being, but I never hear anyone talk about it.

[@finns99]

Netherlands resource poor? Brother I live a few dozen kilometres away from the largest gas field on earth. Or at least it used to be.

[@heldercaze6333]

11th biggest gas Field 🤓

[@AlexTheEggRat]

imagine if they were right next to eachother that would be crazy

[@A79431]

what would be crazy about it?

[@_Sonata1]

I was so happy to see hoser uploaded

[@fredericksimbol2645]

Finally i've been waiting for this

[@Impasta_Tronic78]

First time São Tome is relevant in any degree

[@ilaibengal6920]

One of your best videos In my opinion. You are a king of explaining complex ideas of economics using simple words. Thanks for the knowledge man❤

[@Lobotomistmankyeh]

this channel deserves more subs. you have a really solid understanding of geopolitics and the ability to explain them. great editing too.

[@wnathanielw]

I like his channel too, but he never delves into the idea that some of these countries have a lack of skilled labor due to having such a low IQ on average within their population. He leaves a lot of "risky" theories out. I mean if the average IQ is in the 70s, of course they won't have a space program any time soon lol.

[@laptv2144]

You really went all out with the editing having Baianá playing softly in the background

[@darkbrightnorth]

Note for the last corruption stat, corruption perception is based on opinion and democracies tend to be lower despite having less absolute corruptions.

[@lukejohnston4666]

Yes - autocracies have higher risk (to simply investigate)

[@skampisti3701]

You do explain raw material influences on countries very well!! I would love to get your opinion on the situation in some countries in Easter Europe like Poland or Albania(i heard it has some huge oil fields and big chrome mines) thanks!

[@kailee2166]

This video just goes to show that a country only thinking about natural resources will have a hard time in the long run compared to a country without natural resources that has political stability, property rights, and a good education system, all of which are not physical things.

[@JmKrokY]

Well, yeah

[@Geckota7]

shocking

[@blahbleh5671]

Great explanation of Dutch disease. I've always struggled to out it together

[@Nohandleentered]

That was a wild twist!

[@2MeterLP]

Norway is a good example of how to do oil right. Norway's GDP is 10-35% oil money, yet they are one of the happiest and wealthiest nations in the world. Though they had the advantage of being a stable, reasonably wealthy nation even before they started pumping.

[@samuela-aegisdottir]

But that is only posiible because of Scandinavia being basically a utopia. Nothing achievable for us mere mortals.

[@cooperation3215]

In 10 years Cabe verde will be the most developed country in Africa

[@aynrandfan7454]

I went to both São Tomé and Cabo verde and São Tomé was quite poor in comparison but both had great beaches

[@Hession0Drasha]

If cape verde continies developing as it is, I could see it eventually joining the EU, if it can make good on border security comitments, that is 😊

[@mrslinkydragon9910]

I know it's a part of macaronesia but how is it related to Europe besides historical reasons? Sure if the 4 archipelagos (azores, maderia, canaries, cabo verde) became one nation then yeah, they could probably be EU but currently, doesn't make sense

[@tomi2205]

maybe not join the EU but they could have a lot of partnership programs and shit like that

[@mrslinkydragon9910]

@@tomi2205 sort of like a stepping stone for Africa / EU relations

[@Game_Hero]

Morrocco didn't get membership for not being in Europe

[@mrslinkydragon9910]

@@Game_Hero kinda makes sense

[@asaumier]

Always cool to hear about Cabo Verde, thxs

[@rmmvw]

Another issue that most oil rich countries struggle with comes with value added to raw goods. Usually mineral deficient countries convert those goods into something more finished and eventually sell it back to the mineral rich countries, obviously putting them at a deficit. Oil should be used to fund education in which more research can be done with the resources that they have.

[@phann860]

Nauru is a case in point, though the resource is guano and that appears to have suffered badly through corruption and thievery.

[@connorferguson2269]

This i a great vid hoser, vary good shoecase of the pitfalls of fortune and greed

[@VicbeanBricks2.0]

Love these vids! Keep it up

[@gumarks_]

<a href="#" class="seekto" data-time="630">10:30</a> that was a plot twist I definitely did NOT expect.

[@KFordmusic]

<a href="#" class="seekto" data-time="970">16:10</a> “they should put a couple more mirrors in here so I can stare at myself” beat brings back memories

[@fjooyou]

Like a party going through a dungeon and backstabbing each other for an empty chest

[@phacimo2781]

I thought I was tripping the fuck out hearing that baiana song in the backround from <a href="#" class="seekto" data-time="689">11:29</a> to <a href="#" class="seekto" data-time="806">13:26</a>, I never noticed you put super quiet music for whole videos before its a nice pleasing touch

[@nhjhbmkuy7173]

Upload hell yeah

[@CarlosEspadinha]

the coup in Portugal happened in 25 april, today : )

[@andrefrazao5281]

Idk if this was actually planned, but today is Portugal's Carnation Revolution Day which lead to the independence of both of these countries ✊

[@yonyanyonyan]

i think nauru island would also be a great video topic! good video non the less hoser one of the best youtubers in the platform

[@CreateTeen]

Oml I didn't even realize this was a new video. Banger as always

[@legendbreaker2475]

bro is really researching Capo verde to tell us how to run a country, bro has more sense than politicians by studying countries that no one has ever heard

[@israeldevries]

i forgot these places existed

[@AyeCharley]

<a href="#" class="seekto" data-time="596">9:56</a> Guyana reference 🇬🇾🇬🇾

[@TheCriminalViolin]

Is that a Elephant Shrew you made Sao Tome into? Whatever it is, it's so freaking cute!

[@parz3356]

🇨🇻 It's always a joy to see small countries like mine being recognized 🇨🇻

[@Danial0902]

Hi mate, we’re all just waiting for your future economics online course via Coursera/ Udemy or better conference. Love your content and keep up the good work. I wish you all the best.

[@jabrowski_]

Very intuitive take good sir

[@noahmcd3134]

Holy shit what did we do to deserve a 20 minute hoser video? Give a like ppl were blessed

[@GoAway-vj4vj]

Getting rich does not destroy you, greedy people around you destroys you, not knowing how to handle addiction will destroy you as spending money is an addiction that more people are hooked on then any other addiction.

[@Kyller3030]

The fact that Romania scored the same as Sao Tome and Principe in the corruption index...

[@PopeAbibe]

Babe, new hoser lore jsut dropped

[@dannthegentleman4261]

The selection of music in this video is a beautiful thing! Boa noite povo que eu cheguei!

[@Dictionary_Remix]

<a href="#" class="seekto" data-time="834">13:54</a> Hello to you too, Santomese Armadillo (?)! (My name is João😂)

[@noobssindcool]

Great video!

[@GeckoOverlord]

My favorite youtuber to listen to while playing EU4

[@Thioacetone1]

Please make a video about Angola

[@milestailprower]

"[Cabo Verde] ranks as the African country with the lowest corruption" -Seychelles would like to have a word here

[@guillermodiego819]

Plot twists were killer. Hope it all turns out well for them

[@jeremiquirus1958]

Hey i would love if you talked about Guatemala, other than Iran it feels like the biggest disaster of anti communist interventions with the decades of misery caused by it.

[@acatreassuresyouthateveryt7842]

I understand if petrostate can't easily pivot to manufacturing. But the thing is petrostate should easily pivot to either tourism industry and financial industry. The first require stupid amount of capital (which they have because of oil) and the latter require tax lenient society (which they can because of oil). The problem is both require stable and corrupt free society.

[@rabbitwars001]

KZbin wanted me to rate your comment. I gave it a 10/10 and I also agree

[@SebiSuper9mil]

Yay more Hoser vids

[@RayVon246]

'im getting huge oil vibes here' is the wildest image ive ever seen, what a twist

[@ethandejesus2916]

Nobody talking about how bro casually put the night crawler instrumental in the back🔥

[@AZ-if2mj]

Oil is traded globally in USD and recently in some minority occassions traded in other reserve currencies: oil is not traded in local currencies and hence does not have direct currency inflation effects for local exporters. The USA has historically been until late 20th century and is now again the world's largest producer of oil. The video would be stronger if it analyzed how the world's largest oil producer avoided the pitfalls of oil wealth and why other countries did not or could not follow the USA example.

[@JeRefuseDeBienPrononcerBaleine]

Wouldn't selling your natural ressource using another currency (i.e. American Dollars or British Pounds) avoid the problem of your other industries becoming non-competitive while also getting you the needed currency for internationnal trade ?

[@Namkify]

Here before any Oil was found

[@thomasanderson8586]

Hi hoser

[@timo94752]

I'd really like to know where he gets those nice square import/export -charts.

[@alexandru5369]

Funny thing is Guyana found oil a few years ago and has benefited immensely from it. Finding billions is great if you know what too do with it. it's like winning millions in the lottery but blowing most of it on frivolous things

[@gubwhdjnvkanc]

The Netherlands is not resource poor, the country contains one of the largest gas fields in the world.

[@MrKarakiris]

Capeverdean here, I couldn't identify which animal Hoser was using to represent Cape Verde.

[@SandjyLima]

A dolphin or a manatee ?🤔 But we don't have manatees there

[@rmmvw]

Now do Guyana and how they've worked around the Dutch curse. They're doing a pretty good job, or so it seems.

[@michaelrexrode3759]

Seems like Norway is the only country to avoid the resource trap.

[@moritzr2044]

13 billion views in 60 minutes what a comeback