Local view for "http://purl.org/linkedpolitics/eu/plenary/2013-10-08-Speech-2-222-000"
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"en.20131008.27.2-222-000"2
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"Mr President, perhaps the worst thing that can happen to a country is the curse of natural resources. A former Venezuelan Energy Minister once wrote a book called
in which he advanced the theory that an oil strike will wreck and vitiate a developing democracy. You cannot help noticing that the countries in South America where the destruction of parliamentary government has gone furthest, namely Venezuela, Ecuador and Bolivia, are the three big energy exporters. For every exception – for every Norway or Alberta – you have a dozen Irans, Nigerias and Russias, because you have broken the link between taxation and revenue and you have given governments an easy option which is to interpose themselves between the resources and the foreign investors so that they are positioned in such a way as to receive the bribes.
The best thing we can do for developing countries is to encourage a multiplicity of supply, encourage the rule of law, arbitrated by an independent magistracy, and encourage competition. That will do more for prosperity than any amount of Western aid."@en1
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"The Devil’s Excrement"1
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The resource appears as object in 2 triples