Preliminary investigations appear to indicate that the Maltese archipelago is resting ona treasure trove of oil and gas. Whether this is so would quite likely be confirmed in the very near future, now that thefirst drilling of test wells began this year.

Should results turn out in our favour, Malta, with the huge income generated by gas and oil together with the substantial profits derived from existing industries, would become one of the richest spots in the Mediterranean. Industries from more mature EU countries would rush in and compete to establish themselves here.

It would be government’s responsibility first and foremost to wipe out poverty and to improve beyond recognitionall obsolete public serviceslike the failing transport system. It should also provide amuch more generous pension scheme and devise other facilities to make the locals’ life infinitely less burdensome and more worthwhile.

This tsunami of revenue would, undoubtedly, establish Malta as a prime economic and banking centre in the European Unit, with new banks vying with one another to open their own outlets locally.

Almost in one fell swoop the employment problem would not only be eradicated but the island would become a magnet forforeigners to fill vacancies of work and to partake of the wealth these islands never dreamt of enjoying.

But, with all this money swirling around, financial abuses and corruption would become even more common and must be effectively nipped in the bud to preserve the semblance of a civilised modern society.

Finally and dutifully, with all this wealth it would be our turn this time to offer a helping and humanitarian hand to the unfortunate and poor countries and to loan them our professionals to help them ameliorate their living standards and eradicate poverty and ignorance.