I come from a country, Venezuela, where over 97 percent of all the nations exports goes directly into government coffers. That makes it an impossible country!
If there is any real help those involved with development could give us citizens who live in such oil cursed countries, basically living in somebody else’s businesses, that would be to set up somewhere, anywhere, an oil revenue sharing system that hands over those resources directly to the citizens.
That is the good example we need to have in order to follow.
The US Congress Iraq Study Group Report of May 2006 stated: “There are proposals to redistribute a portion of oil revenues directly to the population on a per capita basis. These proposals have the potential to give all Iraqi citizens a stake in the nation’s chief natural resource"... how tragic this was not pursued vigorously... what a difference that would have made.
http://theoilcurse.blogspot.com/2008/09/my-minimum-minimorum-on-exiting-iraq.htmlhttp://theoilcurse.blogspot.com/2007/08/please-while-you-are-busy-leaving-iraq.html
