11. Why do you think poverty still exists in nations with rich oil resources? Respond in at least 3-5 sentences.

Answer 1

There are several reasons why poverty still exists in nations with rich oil resources, such as corruption, mismanagement, and lack of investment in infrastructure and social programs. Often, the governments of these countries are unable or unwilling to distribute the wealth generated from oil profits equitably throughout their populations. Additionally, reliance on oil income can result in an economic imbalance that can undermine other industries and hinder overall economic growth. Finally, external factors such as global market fluctuations and environmental concerns can also impact the stability of oil-dependent economies and exacerbate poverty.