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How is oil good/bad for the national/local economy?
You can interpret using factors such as health,jobs,market,trading,operation cost vs. usage cost,position within the primary industries of the country etc..
Please give me a reasonable answer. (:
2 Answers
- phat tonezLv 51 decade agoFavorite Answer
Oil is good. It makes us much more productive. It is invaluable.
- simplicitusLv 71 decade ago
http://en.wikipedia.org/wiki/Resource_curse
http://www.globalpolicy.org/component/content/arti...
http://www.wilsoncenter.org/topics/pubs/ECSPReport...
http://www.eldis.org/vfile/upload/1/document/0708/...
http://en.wikipedia.org/wiki/Dutch_disease
etc.
On the other hand, if there isn't too much of it and it can be properly managed, it may be a benefit, as it seems to have been with Norway:
http://www.telegraph.co.uk/finance/comment/edmundc...
