Having oil does not just provide the money to undermine, or prevent democracy taking hold; it also provides an immense source for corruption. Oil revenues provide a revenue stream that is not dependent on the people but simply upon the global market and oil production. In a country with no checks and balances, accountability or transparency the money will inevitably go to the elite. This is how Equatorial Guinea can be rich while having most of the population in poverty. Dictator Obiang himself is worth an estimated $700million or the equivalent of about 4% of GDP.(1)  A trust fund can ensure that money from oil goes to the poorest not the richest. It is managed outside the country and away from political pressure. If the government is corrupt and uses the national budget to its own ends the trust fund can provide the dividends as investment in individual development projects to ensure the money is used where it is most needed. All the time it can be transparent to show when and where the government is trying to influence it or get backhanders.  (1) ‘The Richest World Leaders Are Even Richer Than You Thought’, Huffington Post, 29 November 2013,