Quote from: coin-investor on Today at 01:15:12 PM

Quote from: premier97 on July 06, 2024, 10:01:42 PM

The discovery of oil comes with a huge blessings capable of transforming individual lives communities, states and even countries if well managed. But a situation where the proceeds are miss managed it will turn to be a cause as individual will rise against individual, states Wil rise against starts, countries will rise against countries.

It's better to be in a land where oil is abundant and where its people are living in abundance than in a third-world country where there's a struggle for the rise of the prices inflation due to the rise of oil, which is a big necessity to run an electricity and power the transportation industry.

Our country is being controlled by oil because it lacks it. We are held hostage by countries abundant in oil, so we'd consider it a big blessing if our country had a reservoir of oil.
An abundance of oil defines a country's status in the world economy.

That's not necessarily true. If I'm not mistaken, Venezuela is one of the countries with the largest oil reserves in the world. But let's see, their country is as rich and life is as happy as you think?

In addition, oil exploitation is not easy and not every country has enough technology to exploit it themselves and that is why many wars and invasions break out to compete for resources in the world. I think if your country has oil or resources, that will be an advantage, but whether your country is rich or not depends on politics. An oil-rich country can become rich or it can sink into war, that will depend on that country's foreign policy.