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Oil slick in the Timor Sea: Wikipedia Commons

Last week’s announcement that Timor leste would buy a share of the Greater Sunrise oil and gas fields was met with jubilation in Timor. But not everybody thinks its such a good idea. While the initial $484 million dollar purchase is easily affordable to a country with a 17 billion dollar sovereign wealth fund,  local economic analysis group La’o Hamutuk warns the long term  plan  to build an onshore processing plant could drain the coffers of a country sorely in need of roads, schools and medical care.

 

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