What is wild to me: The United Kingdom, The Netherlands, and Norway took very different paths. For those unaware, the UK shares the North Sea with Norway and there is plenty of oil and gas extract in the UK area of the North Sea. And, the Netherlands has an enormous gas field in the northern part of its country. The UK and Netherlands left it up to private industry and (mostly) taxed it as regular business profits. They didn't create a national petro fund from these profits. However, Norway took a very different path. They created a state-run oil and gas company (Statoil/Equinor) that operate many of the oil and gas extraction sites, and famously created a national petro fund to manage most of the profits. I always wonder why... Was this a missed opportunity for UK and Netherlands?

It usually is when western countries don't continuously interfere with your government.

What are the counterexamples? Maybe Nigeria?

EDIT: yes, also Iraq and Venezuela