Timor oil<\/p>\n
East Timor has finally secured its pot of liquid gold. After
\nprotracted, sometimes bitter, negotiations with Australia over
\noil and gas in the Timor Sea, agreement on the disputed Greater
\nSunrise gas deposit confirms a resource-led future for East
\nTimor.<\/p>\n
With the Bayu-Undan oilfield already on line, and that money
\nflowing, Australia's poor, vulnerable young neighbor has a real
\nopportunity to build a viable economy and end aid dependency for
\ngood.<\/p>\n
Conservative estimates suggest East Timor can count on $US15
\nbillion in oil and gas royalties over about 40 years.<\/p>\n
The sudden injection of large sums of easily won cash into any
\neconomy also inevitably erodes cultures of thrift. Incompetently
\nor corruptly managed resource riches can make poor nations
\npoorer. East Timor's transparent Petroleum Fund, however, is a
\nprudent plan for the future.<\/p>\n
The fund locks Timor Sea oil and gas revenue into sustainable,
\nlong-term international investments. It is not foolproof, and
\nmuch hangs on whether returns from the fund can be translated
\ninto prosperity. It is, however, the best possible start.
\n-- The Sydney Morning Herald<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/timor-oil-1447899208",
"image": ""
},
"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
}