Abstract:
National resources and the energy industry are two strong and critical sectors of the economy for many nations. This is especially true for nations that are dependent on natural resources for their economic development and revenue. The discovery of natural resources has different effects on different regions around the world which raises many important questions. One recent example is the nation of Lebanon. The concern here is whether the recently discovered natural resources will be a blessing that brings hope and prosperity to the country or a curse with negative economic, social, and political ramifications. The latter has been influential in so many other countries and Lebanon is no different. Unfortunately for many nations, history has shown that such discoveries have faced instability and internal strife. This thesis will assess, in general, the impact of oil on different oil producing countries: Nigeria, Kuwait, and Lebanon as a case study. There are many nations that depend on natural resources that have been able to become successful (Kuwait) while others have failed (Nigeria). After comparing Lebanon with Kuwait and Nigeria and analyzing expert opinions, political events, and the structure of the nation, Lebanon is currently heading toward a critical crossroads as there is much uncertainty about the fate of the natural resources industry. Although there is time to change and take advantage of the discoveries to create a blessing for the nation and its people, a failure to do so could lead to a curse instead.
