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The depleting nature of oil and gas resources make it particularly important that governments and economic policies ensure that the benefits of their exploitation contribute to the development of the human, social, and physical capital needed for sustainable development.
Unfortunately, in certain cases, neither investment nor oil revenues have been able to guarantee economic growth or poverty reduction...
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Thus, the presence of major oil and gas industries has been associated with a variety of negative social and environmental outcomes. At the local level where industry enclaves are surrounded by poor indigenous communities receiving little sustainable benefits from the development. At the national level, where the large rent flows do not translate into long-term growth in human and physical capital, which forms the basis for sustained growth...
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development of human resources
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