There are quite a few ways it can go wrong other than just central planning. Ultimately most of them come back to some special interest group attempting to forcibly subvert the economy to favor their own preferences.
High extraction ratios aren’t inherently problematic economically speaking since it’s not like the extracted resources simply vanish, and market forces tend to bring the extraction ratio down over time until it reaches the lowest level anyone’s willing to do the job for. But, high extraction ratios do make a tempting target for non-economic actions designed to preserve the lucrative ratio against the actions of the market.
There are quite a few ways it can go wrong other than just central planning. Ultimately most of them come back to some special interest group attempting to forcibly subvert the economy to favor their own preferences.
High extraction ratios aren’t inherently problematic economically speaking since it’s not like the extracted resources simply vanish, and market forces tend to bring the extraction ratio down over time until it reaches the lowest level anyone’s willing to do the job for. But, high extraction ratios do make a tempting target for non-economic actions designed to preserve the lucrative ratio against the actions of the market.