At least we have oil and the longest coastline with beautiful beaches. Mongolia is landlocked has no coastline.this way of life is not sustainable. we need to abandon it before it abandons us.
You'r obsessed with oil my friend, most likely Somalis will fight over the oil claiming stupid qabil or they will embezzle build luxury hotels in the city and call it "hormar" then again the worst case scenario, our oil gets robbed by foreign corporations. The most successful country that handled their oil money is Norway, compare to the worst country that handled their oil is Venezuela, they spend it on welfare like its no tomorrow. The sad reality is that shithole Venezuela is more advance than us.At least we have oil and the longest coastline with beautiful beaches. Mongolia is landlocked has no coastline.
Somali Oil Now! It's Time For Us to Get Rich! To Hell with Environmentalist!
As the environmentalist get more influential it's gonna get more annoying to drill for oil. Countries are also trying to get off oil. Southern Somalis need to get their shit together fast. We need a competent, transparent and honest government to makes sure oil drilling starts and the money from...www.somalispot.com
For All The Anti-Oil People Watch This Documentary
Too many people have a utopian world view they truly believe that solar and wind power will be able to replace fossil fuels by the end of the century!www.somalispot.com
You'r obsessed with oil my friend, most likely Somalis will fight over the oil claiming stupid qabil or they will embezzle build luxury hotels in the city and call it "hormar" then again the worst case scenario, our oil gets robbed by foreign corporations. The most successful country that handled their oil money is Norway, compare to the worst country that handled their oil is Venezuela, they spend it on welfare like its no tomorrow. The sad reality is that shithole Venezuela is more advance than us.
Another problem with oil, dutch disease in the economy:
Another problem with oil, dutch disease in the economy:
while i egree oil will improve us drastically, how long do we have to wait until is safe? how long do we have to wait until the curroption is tolarable? by the time we are ready for serious economic development, the oil window will be closed.I already answered this:
First, we need security. Assuming Somalia is safe.
To stop dutch disease we can diversify the economy
We can use the oil money to build infrastructure (roads, bridges, powerplants, ect), which will help diversify the economy.
Build up the tourism sector we have the longest coastline and a strong diaspora. We can build resorts, and rebuild our wildlife tourism by reintroducing wildlife.
Then we can put money into the agriculture sector in southern Somalia.
Basically, put the oil money into different sectors of the economy.
Also, we can create a sovereign wealth fund this will help reduce the effect of dutch disease by a lot.
while i egree oil will improve us drastically, how long do we have to wait until is safe? how long do we have to wait until the curroption is tolarable? by the time we are ready for serious economic development, the oil window will be closed.
Norway's ease of doing business is one of the best in the world regardless. Dutch disease is a rich country problem. Comparing a poor country that lacks everything to that is warped.You'r obsessed with oil my friend, most likely Somalis will fight over the oil claiming stupid qabil or they will embezzle build luxury hotels in the city and call it "hormar" then again the worst case scenario, our oil gets robbed by foreign corporations. The most successful country that handled their oil money is Norway, compare to the worst country that handled their oil is Venezuela, they spend it on welfare like its no tomorrow. The sad reality is that shithole Venezuela is more advance than us.
Another problem with oil, dutch disease in the economy:
kills entrepreneurship:
Norway's ease of doing business is one of the best in the world regardless. Dutch disease is a rich country problem. Comparing a poor country that lacks everything to that is warped.
Oil will not solve everything. It can potentially open up new problems. Despite all this, there is a guarantee things can't get worse. In the worst scenario, you will have new problems in an objective better position to work from.