Looks like Ghana can look for an economic boost, based upon recent oil discoveries. The 600 million barrels estimate is not overwhelming, but is significant, as are the comments that they expect to find more. So does the US invade Ghana after "finding" WMD there? Or to make them take back Freddy Adu? I just hope Ghana uses the wealth to build up an economic and academic infrastructure to put them on a solid foundation to continue after the oil dries up.
Here is a good article from National Geographic from a few months ago on how oil drilling in Nigeria has been a complete disaster for those who live there. http://www7.nationalgeographic.com/ngm/0702/feature3/ Fight the real enemy by the way:
Considering the US hasn't yet invaded Angola, Nigeria, Togo, Congo-Brazzaville, Sudan, Libya, et al., I doubt it.
Oil was good for the US because we used it ourselves. Exporting it is a bad idea. But then, our oil did make the decrepit south into a factory for creating unsophisticated nouveau riche that went on to rule the nation and drive it into the abyss. So it wasn't all good either.
Uh, no. From the CIA World Factbook entry for Norway: Doesn't seem to have caused them any major problems.
Norway also funds cradle-to-grave welfare with their export revenues. I think the key is--who controls the oil reserves, and how are they developed? Also, however, I'd think Norway's economy was already more developed and industrialized when North Sea oil came into the picture, compared to most of the countries listed above. And I'd expect the legal/governmental structure was more established and transparent.
If you already have an advanced country, then it's good. But it is a very unreliable way for a poor nation to become advanced. They are just too efficient, and you get a very few very rich people and the vast majority that end up nominally better (and sometimes worse).