If we want to be Resource economy, Well we need to also accept 3rd world economy becuz a 3rd world is considered poor why? they don't have a range of industries or mass employment at an industrial scale. U want 10 million ppl circulating around oil, it won't create mass jobs besides a few manual workers and truckers, most the work is done thru machinery. Most engineering jobs even tho limited itself will go to overseas.
The global oil market scope is 100 million barrells a day, your lucky if opec even allows u to produce 2 million a day. That's 73 billion a year which u will only get 50% if ur lucky from the oil developer. $35 billion will need to be put in sovereign fund to grow, it won't be tolerated it's consumed in petty no return on investment things. 35 billion/10 million has only increased our GDP per capita to $3500 per Somali and that's if it's managed well and tied to sovereign funds.
Oil and Natural resources is over-rated economic model and usually promoted by lazy somalis who want to mimick the arabs but haven't really thought it through. Good economics follows scanning market demand, scanning suppliers, finding limited suppliers and high demand industries and then setting those up in Somalia.
is that profitable business ditoore
