ANALYSIS, COMMENTS, THOUGHTS, AND OTHER OBSERVATIONS IN DR. SKOSPLES' NATIONAL INCOME AND BUSINESS CYCLES COURSE AT OHIO WESLEYAN UNIVERSITY
Sunday, April 25, 2010
Africa's New Oil Riddle
This article talks about how the poor distribution system of oil in Nigeria results in the disruption of its supply. This inefficiency is the reason why Nigeria has not seen much development as a country. Unlike in Norway where the discovery of oil in the North Sea resulted in high standards of living in the country. There have been mixed views about how things will turn out in Uganda and Ghana where oil reserves have recently been discovered. I believe an improvement in the distribution system of oil in Africa can result in an increase in its supply. This might help in keeping the price of oil constant.
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It is nice to see leaders taking a far-sighted, comparative and structured approach to defending against the resource curse.
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