give an example that shows how oil wealth in oil-rich countries is unevenly distributed
Question
Give an example that shows how oil wealth in oil-rich countries is unevenly distributed.
Solution
Sure, let's take the example of Saudi Arabia, a country known for its vast oil reserves.
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Oil Wealth: Saudi Arabia is the world's largest oil producer and exporter. The oil sector accounts for about 90% of the country's budget revenues, 90% of export earnings, and 50% of its GDP.
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Uneven Distribution: Despite the country's immense oil wealth, the benefits are not evenly distributed among the population. The royal family and elites associated with them control a significant portion of the wealth. They live in opulence with luxurious lifestyles, while a large part of the population struggles with issues like unemployment and poverty.
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Economic Disparity: The economic disparity is
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