And political risk will always be there—particularly for oil,which is so often associated with bad government for the simple reason that its very presence causes bad government in states that do not have strong institutions to curb their politicians.
政治上的风险是永远存在的,尤其在石油方面.石油经常被与“坏政府”联系起来,基于这样的原因：石油本身的存在导致了“坏政府”处于一种没有强大到能够妨碍他们的政客的机构存在的状态.
which is so often associated with bad government for the simple reason that its very presence causes bad government in states that do not have strong institutions to curb their politicians 这一整句是一个宾语从句,用来说明Oil,其中its very presence causes bad government in states that do not have strong institutions to curb their politicians 这一句是对reason的说明.
其实去掉修饰部分,整个句子就剩下：And political risk will always be there—particularly for oil.
由于没有上下文,针对句子本身只能解释那么多.
