Not sure if this is philosophy related but I thought this was interesting:

"Leif Wenar, in his recent book, Blood Oil, sheds light on the devastation to resource-cursed countries that results from purchasing oil from these countries. He argues persuasively that the purchasing practices of affluent countries, guided by the rule of might makes right, only cause human misery for the people living in those countries. Particularly compelling is his two-pronged proposal for a remedy. The Clean Trade Act would protect the property rights of resource-cursed countries by making it illegal to purchase oil from those countries. The Clean Hands Trust would consist in trusts, funded through taxes imposed on countries that purchase oil from disqualified countries in violation of the Clean Hands Act. Eventually, the money from these trusts would be returned to the citizens in resource-cursed countries, who have had their oil stolen from them."

The resource curse is well studied and there are countries that have avoided the problem.Realistically a country should invest in a sovereign wealth fund and live on the interest. Large amounts of oil money increase their currency's value relative to other countries which makes the resource rich country's exports less competitive. Those industries go out of business due to their exports being too expensive and the only industries left are resource related.

Ideally a resource rich country would trade oil and invest the money generated instead of letting it circulate in the local economy and drive up prices. A resource rich country could also use their resources to provide important raw materials for nearly free to other industries which would make their exports more competitive.

A better philosophical question would be is the US better off trading oil? Exporting energy may make our other exports less competitive. Does the export ban make us more energy secure and allow us to keep a diversified economy that can weather the boom and bust of the energy industries?