After The Gulf: Is Albania The Next Oil Frontier?
After a troubled past, resource-rich Albania is trying to modernize itself into a good place to do business… and with astonishing success.
Over the years, we’ve visited Albania more times than we’d care to admit. Although it’s not a place we’d recommend for a family vacation, your investment dollars will find a happy home there. Unlike the rocky tale of Albania itself, the latest oil development stories are bound to have a much happier ending.
Albania, Diamond in the Rough?
Albania, about the size of Massachusetts, is surrounded by Montenegro, Kosovo, Macedonia, Greece, and the Adriatic Sea. It beats out only Moldova in gross domestic product (GDP) by population: at US$6,300 per person, it’s dwarfed by the likes of America (US$45,800 per person) and even financially buggered Greece (US$30,000).
A lack of consistent energy and transportation infrastructure is partly responsible for Albania’s sorry numbers. Areas outside capital Tirana and Durrës, a large port, still experience blackouts with fair regularity. Railways are limited, and while major cities are connected by highways, smaller roads can be relatively difficult to access and then to negotiate when you find them. The reasons the country is now having to play catch-up lie in 20th-century history.......
http://blogs.forbes.com/energysource/2010/06/10/after-the-gulf-is-albania-the-next-oil-frontier/
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