Friday, September 16, 2016

Gabon



Roughly half of Gabon's government budget comes from Oil revenues, but production is decreasing rapidly with a need for an 'after-oil scenario'. Before Oil, logging was the engine and there are hopes around iron-ore coming to the rescue. Extractive industries eventually run out. The trick is to transform the assets into something that can act as a muse forever. Instead of being spent, common wealth can be change form into something that can support future creativity. That needs us to act as custodians rather than dividing the spoils by staking claim to land. Because of oil, Gabon is in roughly the top third in the world in terms of average income per person, but many still live in poverty.


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