When the Wells Run Dry: Reimagining Azerbaijan’s Post-Oil Futures

Abstract

Azerbaijan is a case study of the issue of nations with non-renewable natural resource-based economies, usually fossil fuels, facing depletion of what was deemed to be their principal resource. Azerbaijan’s petroleum wealth has been a defining feature of its national economy, social development, and national character for 150 years. It has also manifested what is commonly known as the “resource curse” for its entropic effect on all of the other sectors of the economy. This main driver of its economy is projected to be exhausted roughly within the next 30 years. The focus of this piece is on assessing the prospects of developing a national economy that can create a more equitable and sustainable economic public benefit over the next generation. Each of the pathways summarized herein are from capstone project research reports of graduate students on this issue. It is ultimately intended to be a demonstration of conducting applied future-oriented anticipatory action learning.