WE ARE NO DEBTORS!  WE ARE CREDITORS OF A HISTORICAL, SOCIAL  AND ECOLOGICAL DEBT!
Debt, and Oil inTimor-Leste E-mail
Tuesday, 17 June 2008

By Guteriano Nicolau and Charles Scheiner, La’o Hamutuk

For the "developed" world, oil and gas are essential. Every country, especially rich ones, depends on oil to maintain their economy and their lifestyles. On the other hand, many countries with petroleum deposits rely on them as their principal source of income.

In recent decades, humankind has discovered that oil is not the blessing many believed it would be. Oil has become of one the main causes for suffering, political crises, environmental destruction and economic injustice. It often damages security - internal and external, local and global, personal and national. Around the world, many countries are enduring these effects.

Because the potential money from oil exploitation is so large, it attracts greed and corruption, often causing invasion, war and other conflicts. It widens the gap between rich and poor, promoting social jealousy, injustice, and inequality.

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