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As with many other countries, particularly in the Middle East, oil is a blessing because it allows them to generate enormous profits as a state. But it's a curse because they then have little interest in diversifying their economy, which is essential for many things. Corruption and tyranny typically are the worst side effects of a nation rich and oil and little else. Economically, a crash in oil prices would be devastating for this nation - they have nothing to hedge on.
What else can I help you with?
Is Ghana's oil discovery a blessing or a curse?
yes
How is oil both a blessing and a problem for the Arabia peninsula?
Blessing: It allows for rapid modernization and growth in an area that is otherwise almost completely unproductive and financially non-viable. Curse: It allows for the survival of cruel and authoritarian dictatorships since they can support themselves on oil revenues without having to deal with taxation and "paying" (both to stop people from protesting and to hire police to beat those who won't back down to money) to avoid needing to concede to partial democratic reforms.
How Can oil be a blessing or a curse for the African nation?
It'll bring in revenue. However, there is no guarantee it'll go to the nation - given the history of politics in post-colonial Africa, the odds are against it. Instead, it'll likely line the pocket of kleptocratic politicians, and cause the nation to be ultimately exploited and bled dry for a pittance.
How do you spell annoiting?
The correct spelling is "annointing" (marking or blessing with oil).
Is oil produced in Africa?
There are many countries in Africa that produce oil.
How do the oil in South Africa effect Africa?
South Africa does not have any oil resources. The lack of oil and economic sanctions at the time compelled South Africa to develop an innovative technology that enables it to extract oil from coal.
When people get confirmed what is the oil called?
when people get confirmed it is called a blessing, an anoiting,or a cleanse.
Oil in Africa?
OIl is on of the mafor recources in Africa. Expecially in areas neer the Red Sea
Why is Africa rich in resource?
Africa has minerals and oil
Does Algeria have the largest oil reserves in north Africa?
No, Libya has the largest oil reserves in North Africa. Algeria probably has the second largest oil reserves in North Africa, though.
Is vigrx oil available in South Africa?
You can't find it anywhere in South Africa
What country has the largest supply of oil reserves in north Africa?
Libya has the largest supply of oil reserves in North Africa. It is estimated to hold the largest proven oil reserves in Africa.
