A petrostate, oil state or petrocracy is a polity whose economy is heavily dependent on the extraction and export of oil or natural gas. Petrostates are conventionally independent nations; however writers like Samuel Weston and Andrew Nikiforuk describe major oil-producing subnational entities like Wyoming, Alberta and Louisiana as also petrostates.
A petrostate, oil state or petrocracy is a polity whose economy is heavily dependent on the extraction and export of oil or natural gas. Petrostates are conventionally independent nations; however writers like Samuel Weston and Andrew Nikiforuk describe major oil-producing subnational entities like Wyoming, Alberta and Louisiana as also petrostates.
Source: Wikipedia "Petrostate" · CC BY-SA 4.0
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