NY Times Op-Ed- Making Sure the Money Goes Where It's Supposed To

[Wetzelbill]

This is very good. Some points that need to be in the forefront of national and world debate, imho.

OP-ED CONTRIBUTOR

Making Sure the Money Goes Where It's Supposed To
By ANTHONY RICHTER and SVETLANA TSALIK

Published: December 4, 2003
merica has always lusted after a secure energy supply. Against a background of deteriorating relations with the Arab world, which holds the largest oil reserves, the United States is casting about for new sources of oil in countries like Venezuela, Nigeria, São Tomé and Azerbaijan. With Saddam Hussein gone, Iraq could also become a major supplier.

So intense is the need for oil that the United States often turns a blind eye to problems of governance in those countries — whether the leaders are corrupt, abuse human rights or block any moves toward democracy. This inaction amounts to complicity. It undermines, rather than enhances, American energy security, since repressive regimes are prone to being violently overthrown by people who resent the United States for supporting their oppressors.

It is one of the great paradoxes that countries rich in natural resources tend to have lower growth rates, more debt, worse governance and greater political unrest than their energy-poor neighbors. Vast petroleum profits without oversight allow corruption to flourish. Nigeria, for instance, has earned more than $250 billion for its oil in the last 25 years, yet remains mired in poverty. In Turkmenistan, gas revenues are deposited into a foreign account controlled by the president for life, Saparmurat Niyazov, international financial officials say. These kinds of governments do not make for stable energy suppliers.

http://www.nytimes.com/2003/12/04/opinion/04TSAL.html

[cosmicdot]

1. what a revolutionary concept! think it'll catch on?

"...the United States often turns a blind eye to problems..."

'often' is surely an understatement

my sarcasm goes on:

corporate boardrooms must fret daily with these concerns ... constantly seeking ways to turn that blind eye in the proper direction to match the corporate and citizenship responsibilities promoted on their websites and such

the article cited a 25-year period as a measure ... 25 years!

it's so important that Cheney's Energy documents are fully disclosed ... in them, likely, is the blueprint for their foreign policy
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~`
this probably is the most important posts of the day if not this period in time ...

it's the essence of so many problems and issues

[HawkerHurricane]

2. Those who do not learn history...

In the 16th and 17th century, Spain imported TONS of gold, silver, and other valuable things from thier colonies in the Americas...
And went bankrupt! They spent money faster than they could steal and ship it.
Many oil-rich countries are doing the same.

[SharonAnn]

3. Some of this is true in parts of the U.S.

"It is one of the great paradoxes that countries rich in natural resources tend to have lower growth rates, more debt, worse governance and greater political unrest than their energy-poor neighbors."

Sounds like the South and West when they're focused on extractive industries. Not exactly building anything, educating anyone, developing a middle class, etc. Just a few landowners and cheap labor.

[HawkerHurricane]

4. Please! The proper terms is not

'Just a few landowners and cheap labor.'

It is 'Noblemen and Peasantry'.