Today’s Sydney Morning Herald carries a good story on Cambodia’s oil find. Here is an extract:
Still clawing its way out of the ruins of its brutal past, Cambodia has come face to face with an extraordinary new future: it seems to have struck oil. The oil giant Chevron says it has found potentially huge deposits off the southern shore, as a result of exploratory drilling that began two years ago. The company has not made the results known, but given other likely deposits nearby and with mineral finds being explored onshore, experts say, Cambodia could be a resource-rich nation. Senior officials, including the Prime Minister, Hun Sen, have been feeding the excitement this year, offering extravagantly optimistic estimates that the oil money could start to flow within two or three years. But this is not necessarily good news. For many struggling countries, such as Nigeria and Chad, oil has dragged them into deeper poverty and corruption in what some call the oil curse.
Occasional New Mandala contributor, Maylee, has a good comment over at the RMAP Blog:
There has been much journalistic debate over whether or not Cambodia is likely to use it’s new found oil wealth for the good of its people or whether it will further enhance Cambodia’s status as Southeast Asia’s most rampant kleptocracy. Hun Sen has repeatedly sworn it will be used to the benefit of all Cambodian people. Not that “the people” are likely to be heard at the polls if they this doesn’t happen – Hun Sen recently won 98% of commune chief positions in last month’s commune elections. One commentator at a Cambodian website noted that this result is second only to Sadam Hussien’s election result prior to American invasion.
7 responses so far ↓
1 Deacon Miller // May 8, 2007 at 5:46 am
The only fair way to do this is to determine the profit and send every man, woman and child citizen a check for their fair share.
2 Pig Latin // May 8, 2007 at 11:29 am
Also, what will happen to Sihanoukville now? — as the article alludes to the oil being found near there… Will there be plans to ’save’ it?
3 Amateur // May 8, 2007 at 10:42 pm
Here is another good article in the Guardian in the UK:
http://www.guardian.co.uk/international/story/0,,2026467,00.html
4 Null // Jul 24, 2007 at 2:55 am
No, giving everyone a check from the oil profits is a horrible idea. Cambodia can instead create jobs and industries with that money.
5 Deacon Miller // Sep 1, 2007 at 4:10 am
Giving money to the people WILL create jobs. If you give it to the “government” much of it will end up in overseas accounts which will do nothing for the people.
6 The Oni // Sep 16, 2007 at 2:15 am
Why the hell would you give everyone the money? They aren’t working for it. Look, just because it is off the southern coast DOES NOT mean that Cambodia owns the rights to it. The way borders are situated, Cambodia claims hardly any ocean past the shoreline. Let the company take the oil. If people want a way to get money, have them find jobs that are related to it. It isn’t like the company will have a choice in how they export the oil. Just don’t do something stupid by giving it directly to the people. If you have ever lived in Cambodia you immediately should understand my reasoning.
7 nganadeeleg // Sep 16, 2007 at 10:45 am
I’d say try to follow the Norwegian example to avoid ‘Dutch disease’, but anyone got any suggestions how to avoid the Nauru example?
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