194: Ghana prepares for oil

I remember being really excited when I heard last year that oil had been discovered off the coast of Ghana. Then I checked myself. After all, most nations with oil (and to a certain extent other precious natural resources) have failed miserably at redistributing the spoils from its exploitation, and a good number have descended into conflict. Such is 'the resource curse' as it's known... I took some heart from today's linked article from IRIN, though, which suggests that Ghanaians are already keenly aware of the risks posed by the country's imminent oil bonanza and are thinking through how best to cope. According to the article, the debate is not over whether to ensure transparency over oil revenues, but over which model to adopt. There also appears to be widespread acknowledgement that the benefits must be seen through investment in social sectors (e.g. health, education, sanitation). There is a lot more to resolve - and not much time available, as production is expected to start in 2010 - but it seems as if Ghana is already in a better place than many other oil-rich nations. At least, the right questions are being asked, which is a promising start. (Map image from IRIN.)