CASE STUDY

Exploitation of Oil and Gas Resources

Exploitation of Oil and Gas Resources

Case Study

Less developed countries depends on the developed countries, because they don't possess any kind of resources in their countries that can be utilized to build the nation, for the atmospheric, environmental and social and economic cause. Some of the major resources are many useful for the development of the nation and the entire region, like production of cotton, rice, sugar or the presence of reservoirs in the beneath the surface of the land. Presence of natural resources like crude oil, gas reservoirs, coal, gold and diamond etc are the stream causes of economic development of nations like Brunei. Presence of black gold in the nation is the key to hold the other developing countries in their hand. When they ask to have the oil export to the countries they can have their own desired and price settlements on which the importer have to make consensus. Processing of oil and gas is one of the biggest reasons of revenue generation for the nation. Advocates of oil-headed advancement accept that nations lucky enough to have "dark gold" can build their growth with respect to this asset. They focus to the potential regale from improved investment development and the production of livelihoods, expanded government incomes to fund destitution assuagement, the exchange of engineering, and the change of framework and the heartening of identified commercial ventures. In any case the encounter of generally all oil-trading nations to date delineates few of the aforementioned profits. In actuality, the results of oil-headed infrastructure as a rule are negative, incorporating slower than needed development, boundaries to investment enhancement, abject social welfare exhibition, and elevated amounts of neediness, disparity and unemployment. Moreover, nations reliant on petroleum as their main asset for infrastructure are described by extraordinarily oppressed influence and towering defilement, frequently destroying financial, health and natural outcomes at the nearby stage, and elevated frequencies of clash and combat. In whole, nations that hinge on petroleum for their business in the long run come to be right around the most financially pained, the most tyrants, and the most clashes ridden on the world.

The trade taken place between the oil producing and the consuming countries, the developed countries like USA, India, and China are consuming massive amount of oil and gas due to the massive population present in it. As there are potential of benefits of the oil and gas resources, there are as many of the detrimental causes of the oil and gases to the less developed countries like Nigeria, Libya and Columbia (Bentley, R. W. 2002, p. n.d).

Exploitation of Nigerian Oil and Gas Resources

Nigeria also has large deposits of natural gas, estimated at about 160 trillion cubic meters. The size of deposits put up Nigeria's 10 richest countries in the world. Due to the lack of sufficient infrastructure to the development of gas fields, nearly 40% is burned in a flare and about 12% is used to produce ...