GETTING THE INSTITUTIONS RIGHT. Glenn Reynolds and Michael Barone note that oil wealth does not have to hamper economic development (compare Saudi Arabia and South Korea from 1954 to the present.) Derrick Z. Jackson (requires registration) takes the dissenting view, noting, "Three of the top five nations the United States currently imports its oil from are Mexico, Venezuela and Nigeria. All have either major environmental problems from oil, political turmoil or both." (Jackson's main point appears to be to sneer at auto racing fans, but stay with me here.) Getting the institutions right matters: the Alaska trust fund is one possibility. What does the U.K. or Norway do with their North Sea oil revenues?