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How do you secure the rights of generations?
Economical 06/10/2024
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: Developed countries attach great importance to achieving the goal of preserving the rights of generations to the country’s wealth and consider it a red line that cannot be crossed for any reason.
What preoccupies me most during this period as an interested person and researcher in economic affairs, as I follow the various changes affecting global economies and the extent of their impact on my country’s economy, is the search for a satisfactory answer to a question related to the rights of future generations to the country’s wealth.
It is known for the purposes of research and analysis that oil is the main source and basis of the country's wealth and the rest is not invested.
The question is, of course, what is the best way to preserve the rights of generations from this wealth (oil)?
This question comes in the wake of what is indicated by the expectations issued by experts, research centers and international studies, that oil is on the way to depletion, that is, running out, and that in the year 2050, its use (ie (oil)) will be completely dispensed with as a main source of energy generation after finding alternatives that compensate for it at lower costs and with specifications. It is concerned with the environment, but you can imagine the scale of the disaster if the astrologers (experts) are correct.
Here are the immediate signs of replacing oil as a source of energy, which is represented by the appearance of cars that rely on electrical energy generated by alternatives to oil, as an indicator warning of the reality of dispensing with oil. There are many experiments and attempts on the horizon, where the standard of time is measured by the acceleration of time to achieve the goal.
There is a division in opinions between those who see the necessity of keeping the oil wealth underground, while the more likely opinion is a second opinion that holds to the necessity of investing the reserve and transforming it into future projects (strategies) that secure the rights of generations and benefit from the remunerative and attractive prices in this period and periods of crises for this purpose.
Although the only reservation that stands out to me, with an analytical vision, is who will ensure that the revenues of wealth are invested in the right place, i.e. future projects? Do we have a clear vision regarding the strategic projects, their size and type that secure the rights of generations?
Here is the challenge that comes in light of Iraq's need to rebuild its dilapidated infrastructure. Therefore, the matter requires careful consideration of how the rebuilding processes will proceed in parallel with the goal of future (strategic) projects related to the rights of generations in order to ensure that the goal is achieved, and here it will be the responsibility of economists and economic expert houses to state their visions. In a specialized conference in which the state’s responsibility is highlighted in its sponsorship in order to mature a vision and will to guarantee the rights of generations, we follow up to see how to investigate securing the rights of generations from depleted wealth.
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