Yesterday, the news media bring my attention to Nigeria's major pollution. The oil exploration along the coast of Nigeria has created serious problem for the fishermen. The oil leaked out from the pipeline clogs up the shoreline causing death to many sea creatures. Living condition is getting worse every day for the villagers. The wealth generated by the oil industry is shared only by a few. The fact is the poor gets poorer.
In the other end of the world, Alberta is an oil rich province where the wealth is shared relatively by the countrymen. At least, the provincial administration is trying their best to create a diversified province. The fact is the poor gets richer.
Oil companies, especially global companies like Exxon-Mobile, BP, Total, Shell, who enjoy government and financial support. The massive infrastructure required to process and transport these products is capital intensive. Return on investment is a major yard stick for many oil industry executives. Investors are more aggressive in the last decade when funds managers take over the investment role.
Is it a vicious cycle of creating victims of wealth building? Small investor joins as a group to look for better wealth distribution. The simple objective for these investors is to retire on a decent pension. Most of them find not only their oil dividends dwindle, their other investment shrinks as pollution can create irreparable damage.
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