The Looting of Lebanon’s Natural Gas

While most Lebanese are preoccupied with the uprising in Syria, or are subject to fear and anxiety-mongering, others are working on very different projects, such as looting the natural gas off the Lebanese coastline before it has even been extracted.

This is no exaggeration. Anyone not believing that those in power are capable of this kind of obscene behavior should read the official document prepared by the economic team of the office of the prime minister entitled “Action Plan for Economic and Social Reform.”

The plan demonstrates that the government is going to prioritize using the expected revenues from the sovereign wealth fund – rendered by oil and gas earnings – to pay off part of the public debt.

The government intends to prevent any project being financed with this sovereign wealth fund until the size of the public debt goes down to less than 60 percent of the gross domestic product (GDP).

This tactic means that some officials are using fear-mongering to scare the Lebanese people when it comes to public debt (and other issues) in order to get their hands on a finite, non renewable resource.

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#إيرادات #دين #الشفافية #revenue #transparency #debt