http://archives.dailytimes.com.pk/editorial/27-Dec-2005/second-opinion-establishment-is-nothing-but-the-army-khaled-ahmed-s-tv-review
BBC (November 19, 2005) debated with an Arab audience and two opposed groups of speakers on the subject 'Oil is a Curse'. The debate took place somewhere in Qatar and for an objective viewer it was easy to see that the reasons given by those who thought that oil itself was a boon while its bad use was a curse. But when the final vote was taken from an Arab audience, the verdict was that oil itself was a curse.
The usual explanation for 'oil as a curse' is 'Dutch Disease', named for the hardships that befell the Netherlands after it found North Sea gas. When a country strikes hydrocarbons, a sudden inflow of dollar-denominated revenues often leads to a sharp appreciation in the domestic currency. That tends to make non-oil sectors like agriculture and manufacturing less competitive in world markets, thus leaving oil to dominate the economy. Among the Arabs, the feeling is understandably strong. Like other Third World states, they are unable to prevent the raiding of the easy oil kitty by their rulers, including representative governments. Oil is a curse because dictators can take over without fear of external sanctions. It is a curse because it doesn't sit well with nationalism, which would spend the oil money on war. In the case of Iran, it doesn't sit well with an honour-based worldview.
BBC (November 19, 2005) debated with an Arab audience and two opposed groups of speakers on the subject 'Oil is a Curse'. The debate took place somewhere in Qatar and for an objective viewer it was easy to see that the reasons given by those who thought that oil itself was a boon while its bad use was a curse. But when the final vote was taken from an Arab audience, the verdict was that oil itself was a curse.
The usual explanation for 'oil as a curse' is 'Dutch Disease', named for the hardships that befell the Netherlands after it found North Sea gas. When a country strikes hydrocarbons, a sudden inflow of dollar-denominated revenues often leads to a sharp appreciation in the domestic currency. That tends to make non-oil sectors like agriculture and manufacturing less competitive in world markets, thus leaving oil to dominate the economy. Among the Arabs, the feeling is understandably strong. Like other Third World states, they are unable to prevent the raiding of the easy oil kitty by their rulers, including representative governments. Oil is a curse because dictators can take over without fear of external sanctions. It is a curse because it doesn't sit well with nationalism, which would spend the oil money on war. In the case of Iran, it doesn't sit well with an honour-based worldview.
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