Governance
Political Impasse Prevents Lebanon From Exploiting Oil Resources

Two years ago, billboards across Lebanon declared: "Our country has oil."

The announcement was supposed to bring with it the magical solution for many of Lebanon's ills, among them chronic public debt, power shortages and poor public services.

Back then, the prospect of major oil discoveries off the Mediterranean coast triggered dreams of a prosperous future, but today it seems like the Lebanese were the victims of false advertising

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