Instead of Making Prosperous, Oil Fields in Poor Countries Become a Curse, This Timor Leste Institution Reveals Shocking Facts, ‘Better Never Found’

Sosok.ID – For Timor Leste oil is a very valuable asset because it is the only pillar of the country’s economy.

Around the world, and many countries, including Timor Leste, oil and gas provide tremendous wealth for some of its citizens.

But many countries with abundant oil wealth, are actually suffering losses from profits.

This applies to countries that do not have established governments, outdated democratic traditions, and fragile economic foundations.

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Quoting the Timor Leste research institute La’o Hamutuk, many people around the world, from Venezuela to Nigeria or perhaps Timor Leste, should never find oil.

Oil in poor countries, more often than not, benefits most of its own people.

The money generated will only be spent by a few people, and may lead to wrong or unsustainable policies.

These industries can damage the environment, and often result in human rights violations, and this happens in many ways.

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