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We use new, detailed oil data and an event-study design to analyze political change in 36 oil-producing countries that experienced at least 10 years of declining production. We find that when their production starts to decline, they become significantly more democratic, relative to both the overall ...

Governments have long faced pressure to address the climate crisis by increasing taxes on fossil fuels, which are the source of more than three-quarters of the world’s anthropogenic carbon pollution.