THAT OIL BENEFITS ALL

IN some countries oil is seen as a curse because of the problems associated with it. Lack of transparency in accounting for oil revenue, environmental problems associated with oil exploration and lopsided development initiatives combine to rob indigenes of what is due them.
That is why the country is taking steps to ensure that the discovery of oil in the Tano Basin does not end up becoming the nemesis of our development process, as is the case with some countries which have been plagued by the rather sordid paradox of oil money.
The steps so far being taken by the government and, indeed, all Ghanaians are to make sure that the discovery of oil turns out to be a blessing rather than a curse.
It is against this background that the DAILY GRAPHIC welcomes the efforts by the government to prepare a comprehensive national oil and gas policy and master plan for the development of the emerging oil and gas industry in the country.
It is noteworthy that Ghana is very much aware of the curse of oil money in some countries and is prepared to learn from their experiences.
As noted by President J. A. Kufuor at the first National Consultative Forum on Ghana’s emerging oil and gas industry in Accra yesterday, the forum was expected to provide the platform to brainstorm on how well the nation’s emerging oil industry, both upstream and downstream, could be effectively and efficiently managed.
The president definitely must be applauded for the vision he has exhibited, even as he prepares to leave office, come next January. Clearly, he is determined to leave behind a cherished legacy that will stand the test of time.
Indeed, all Ghanaians should resolve now that they cannot fail posterity, since how well the emerging oil and gas industry is managed will be a reference point for any future assessment by generations to come.
As a country, we have been at the throes of an erratic crude oil price regime that leaves the poor even more impoverished and perhaps no description is more apt than to say that the oil find in the Tano Basin is God-send.
Ghanaians need to rise above selfish interests and ensure that the oil is harnessed for our collective good and not for a few “smart” individuals to line their pockets at the expense of the masses.
While we encourage fruitful debate on the various contractual terms and decisions being taken, we dare say that our leaders must be sharp, professional and business-minded and also very selfless in all their negotiations and deliberations.
The DAILY GRAPHIC believes that the right calibre of people have been assembled to draft the comprehensive national oil and gas policy and master plan for the industry. At the end of the day, Ghanaians should go to sleep, convinced that their interests have been well secured.