I think it is fair to say that Armenians have been jealous of the vast oil resources of its neighbors for quite some time. Perhaps envious no more!
...the agreement allows prospecting on half of Armenia's territory adjacent to Iran, Azerbaijan and Georgia, the states rich in oil and gas. "We suppose the south of Armenia has similar potential."Then again, a lot of oil-rich countries have become lazy vis-a-vis business development. Too much reliance on any one resource will do that to a country.
Here's hoping some oil is found, if for nothing else other than bragging rights!
Source: Pan Armenian via Gibrahayer
4 comments:
I'd be very, very, very surprised if significant amounts of oil were found. The geology doesn't seem right for it.
Doug M.
I remember about 20 years ago there were some rumors that some geologist found oil but concealed from Soviet goverment and they went to prison for that.
I'm worried about the environment, if oil is indeed found. The business world in Armenia is not always kind to the environment.
That's a big concern, certainly. Case in point: Teghut's forest.
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