Along with quality oil and gas resources, multinational oil companies are discovering the value of social stability, a reasonable amount of respect for property, predictable government action, a tolerable administration of justice. (My guess is that the shift is associated with reducing tolerance for corruption in less-developed nations -- a good thing in the long run, but in the short run it means that wealthy oil companies can no longer buy protection with a handful of payments to the right people and yet the social stability and other things needed are still under development.)
Posted on: Mon, 28 Jul 2014 14:44:31 +0000
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