Libya

Libya has been a classic case of the resource curse: enormous resource wealth (even on a per-person basis), but instead of prosperity, the windfall has coincided with poverty and political oppression. The new government now has the job of finding […]

According to Knight Ridder, the Libyan dictator, Colonel Mouammar Kadhafi has pledged to abolish the oil ministry and distribute oil revenues directly to the people. Kadhafi said, according to Reuters, “All citizens have the right to benefit from the oil […]