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Why do they fail to exploit their oil wealth?

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Why do several major oil-rich countries fail to exploit their oil wealth successfully?

Oil
Wealth
Wealth Management
Oil&Gas
Poverty Reduction
Wasim Safdar
9 months ago

4 answers

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  1. Due to mass spread corruption
  2. Weak political system
  3. Marginalization of certain groups
  4. insecurity and internal strive
Ibitoye Segun Emmanuel
9 months ago
Thanks, Ibitoye Segun Emmanuel, I agree. But some say it is "oil curse", what do you think? - Wasim 9 months ago
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It is called, OIl curse:, not?

Hassan Qudrat-Ullah
9 months ago
I agree with you, Hassan Qudrat-Ullah. If it is not a curse then why Venzvala and Nigeria show much poverty.. - Bo 9 months ago
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Simply poor management and corrupt practices. .

Ali Qudrat
9 months ago
Ali Qudrat I agree with you completely. - Ibitoye 9 months ago
I agree with you Ali Qudrat and Ibitoye Segun Emmanuel, it is all about management else how Singapires' GDp could be larger than several oil rich countries. - Hassan 8 months ago
Ali Qudrat I agree with and those who agree with you on this. Better managment will lead to better life for masses of these oil rich countries. - Bo 8 months ago
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I think instead of a "Oil Course", It is curse made the people of those oile countries for themselves. They would be better off if they manag eit well.

Bo Chen
8 months ago
I agree Bo Chen. Good management can help bring chnage in the lives of mases of these nations. - Wasim 8 months ago

Have some input?