Ghana's Emerging Oil & Gas Industry

Ghana Is Said To Be One Of The Fastest Growing Economies Due To Its Emerging Oil & Gas Industry

Ghana's Detrimental or Blessing oil and gas industry It wasn't long ago when Ghana discovered oil and gas in the shore of the Jubilee field at Cape Three Point in the Western Region of Ghana.

This development came to add to the already existing oil fields in Saltpond and North & South Tano. This will aid Ghana to produce oil and gas on commercial basis. The country currently has identified seven major oil fields offshore believed to contain reserves of over 1.8 billion barrels of oil and gas deposit.

The expectation many Ghanaians attached to this development was abundant income which will help to fuel the Ghanaian economy into becoming one of the world's richest countries. But to the dismay of

the Ghanaian, the discovery of the oil and gas has rather crippled the nation into a sickness yet to be healed.

Notwithstanding the expectation from the oil and gas industry, there is also a 'paradox of plenty' or 'resource curse'. For instance, some countries like Canada, Chile, Botswana and Norway with prudential and transparent management practices have made extensive benefits for their natural wealth or resources whereas most of the countries like Chad , Ghana, Nigeria, Sudan, Cameroon, Uganda, Democratic Republic of Congo and others though rich in mineral resources, continue to be

poor.
Although there are benefits that have come with the discovery of oil fields, there are equally a number of detriments that are attached to it. The discovery is going to help the nation get more income as anticipated by most Ghanaian if and only when we do away with the man called corruption. Ghana must not be hindered in anyway in terms of the energy issues because we enough for our nation.

In addition to the above, the discovery of the oil and gas in the country should be able to cut down the unemployment level in the country. The people who work in the oil and gas industry should

extensively be Ghanaian youths. This will help to reduce the increase in the crime rate in the country as well.

The discovery of oil and gas in the country must be able to solve the problem of rural-urban migration so as to reduce the congestion in the capital town. The oil and gas industry must perform their Corporate Social Responsibilities (CSR) by providing the needs of the community in which they operate. This will help the folk feel more comfortable staying in their abodes.

On the contrary, the emission of dangerous and poisonous gases into the atmosphere of the communities where the oil and gas industry operates is a great bottleneck. These gases when released into the atmosphere can result in the formation of acid rain which could so harmful to the health of the people in these communities.

It is argued that the people who lived in these communities before the discovery of the oil and gas has regretted ever living in those areas. This is stressed to the fact that, the water bodies have been

destroyed just to make room for the exploration of the oil and gas whom will after all get a minimal compensation from the oil and gas industry.

In conclusion, the benefits of the oil and gas can only be achieved through corruption-free hardworking attitude of the Ghanaian. Together, we can determine whether or not the discovery the oil and

gas in Ghana will be a detriment or a blessing to the nation.in the country must be able to solve the

problem of rural-urban migration so as to reduce the congestion in the capital town.

The oil and gas industry must perform their Corporate Social Responsibilities (CSR) by providing the needs of the community in which they operate. This will help the folk feel more comfortable staying in their abodes.

On the contrary, the emission of dangerous and poisonous gases into the atmosphere of the communities where the oil and gas industry operates is a great bottleneck. These gases when released into the atmosphere can result in the formation of acid rain which could so harmful to the health of the people in these communities.

It is argued that the people who lived in these communities before the discovery of the oil and gas has regretted ever living in those areas. This is stressed to the fact that, the water bodies have been

destroyed just to make room for the exploration of the oil and gas whom will after all get a minimal compensation from the oil and gas industry.

In conclusion, the benefits of the oil and gas can only be achieved through corruption-free hardworking attitude of the Ghanaian. Together, we can determine whether or not the discovery the oil and gas in Ghana will be a detriment or a blessing to the nation.

MacJulius Kofi Satsi
0543090396/0262400328