Is the Discovery of Oil a Blessing or a Curse?

Commodities have always been controversial since there are questions about whether they are a blessing or a curse. Since the creation of civilization, the stronger nations sought to overtake smaller communities rich in gold, diamonds, oil, or other commodities. In this sense, this became more of a hunger for wealth and power that came with such goods. From the example of Nigeria and its oil reserves, it can be seen that oil is a curse. According to the case, this nation is “Africa’s largest oil producer,” and its reserves account for most of its exports, Nigeria’s revenues, and GDP (p.173). While it might benefit the corrupt government officials and the companies that directly operate in oil sales, oil discovery harms citizens and the environment. Despite the wealth created by the oil deposits in the Niger Delta, a large portion of the native community endures abject poverty and lacks access to electrical power, decent hospitals, and educational facilities. The nearby swamps have been degraded by drilling operations and unavoidable spillage, harming the fisheries and the fishing business that depends on them.