Monday, March 08, 2004
Oil: A blessing or a curse?The BBC is hosting a vigourous debate as to whether the production of $30 billion worth of oil is a blessing or a curse for impoverished African countries.
One contributor suggests that "the paradox of plenty" results in oil revenues creating a buffer between the government and the population, which fosters corruption, and leads to a loss of transparency and accountability.
Others seem to prefer blaming global capitalism, the CIA, African leaders, wanton corruption, debt, and a world prepared to watch money be squandered on an epic scale... in return for oil.
Posted 10:32 pm by Matt Prescott