Jul 26, 2005
The more oil a country produces the more debt it tends to generate, while the more dependent on oil exports a country is, the deeper in debt it tends to be, according to a report from Oil Change International. The report recommends that OECD countries should end Northern governmental subsidies for new oil projects in the South as such projects have not historically provided energy for the poor, and are proven to be associated with increases in poverty, conflict, and debt, and to increase the risk to the poorest from climate change.
































