Oil: Blessing or Curse?

In one of the poorest regions of the world lie the resources that allow some men to make a killing.  Diamonds, iron ore, and especially oil have proven to be detrimental to the masses in Africa in the past, leading to inhumane practices and gross mistreatment of human beings.  One simply has to watch the movie "Blood Diamond" to gain perspective on this issue.  However, as this article states, "For the first time in decades, though, there is some reason to hope that a better model is emerging that may be more successful in bringing the benefits of Africa's extraordinary endowments to the people who need them most."
New regulations from the EU and United States are being put in place to keep the money earned from these exploits in the country themselves, rather than being sent offshore to executives' bank accounts.  However, not all are optimistic about these safeguards from extractive institutions.  The chair of the Global Alliance for Tax Justice argues that there will still be corrupt officials, regardless of the inclusive institutions put in place.  However, one universal idea underlies the crux of Africa's problems, one that A and R would agree with.  Without a stable, centralized government, the discovery of oil in Africa will remain a curse, not a blessing.