Chad angry at World Bank over oil

[lovuian]

http://news.bbc.co.uk/2/hi/business/4570672.stm
snip...

World Bank President Paul Wolfowitz said the law was a deciding factor in the bank's financial support for the massive pipeline project in 1999.
more...
Wolfawitz remember him!!!

[Erika]

1. Bush global corporatists in charge of the world oil

Poverty in every country will dramatically increase to satisfy the gluttonous appetites of the super rich.

[lovuian]

2. I see a pattern here They want to control all the OIL in the

world...

that will bring Europe & China to their knees...

[tx_dem41]

3. Maybe people should read the article. The World Bank is right...

on this one.

[madeline_con]

4. Better check a little further.

Here's a starting point...


THE WORLD BANK : OILING THE WHEELS OF CORRUPTION IN CHAD

par Eric Toussaint , par Damien Millet

The World Bank’s bombast about good governance, corruption and reducing poverty is a farce. In reality, the World Bank is supporting an oil pipeline project that allows a notorious dictator to fill his pockets and thumb his nose at the world. Meanwhile, the people of Chad are bleeding themselves dry to repay a monumental debt without enjoying the fruits of a natural resource that is rightly theirs. We propose to take a closer look at a so-called neo-liberal model that has been forced on Chad by the international institutions for the benefit of the major powers and world finance.

From the start of the project in the mid 1990s, many organizations for the environment, human rights or international solidarity (including the CADTM) were alarmed to learn that the World Bank was supporting the construction of a pipeline linking the Doba oilfields in Chad to the coastal terminal of Kribi in Cameroon, more than 600 miles away. From the outset it was obvious that the environmental, human and financial risks were exorbitant: Shell and Elf preferred to pull out. Nevertheless, the final consortium, consisting of ExxonMobil, ChevronTexaco (United States) and Petronas (Malaysia) succeeded in completing this 3.7 billion dollar project thanks to the powerful strategic and financial backing of the World Bank.

The construction of the pipeline, completed in 2004, was carried out with a total disregard for the populations concerned. For example, the indemnities initially offered to those living in the path of the projected pipeline amounted to a mere 25 XAF (3.8 euro cents) per square meter of groundnut plantation destroyed, 5 XAF (0.8 euro cents) per square meter of millet lost, and 3,000 XAF (4.6 euros) per mango plant destroyed, whereas according to the Chad MP Ngarlejy Yorongar, the first crop of this tree alone yields 1,000 mangoes, each tradable at around 100 XAF (15 euro cents). It was only after much protest and pressure that these amounts were slightly raised.



http://www.cadtm.org/imprimer.php3?id_article=1696

[Robeson]

14. Very informative.

[madeline_con]

5. Chad being 'cheated of oil dues'

The government of Chad has accused a US-Malaysian oil consortium of cheating it out of oil royalties.
Chad officials charge that the price the Exxon-Mobil, ChevronTexaco and Petronas consortium pays for its oil does not reflect soaring global prices.

The country, which produced 38.9 million barrels of oil in its first nine months of production, said it was appointing auditors to investigate.

The consortium said it could not comment until it had seen the details.


(snip)


By 30 June of this year it had earned $70.8m (£39.5m) for the 33.1 million barrels it sold abroad.

(snip)

http://news.bbc.co.uk/2/hi/business/3728340.stm

[Robeson]

13. Great article.....

...thanks for posting...:thumbsup:

[Hyernel]

6. Chad who?

[NanceGreggs]

7. The Infamous Hangin' Chad, that's who!

[Hyernel]

9. Hey Chad...I heard you was hung!

Chad: And they was right!

[NanceGreggs]

8. Wolfowitz - remember him?

Of course I remember him!

That would be Paul 'This War Will Pay For Itself' Wolfowitz!

[saigon68]

11. This sorry piece of shit ?

[NanceGreggs]

12. Oh, yes, I almost forgot ...

"Paulie sucks comb, and I don't care,
Paulie sucks comb, and I don't care,
Paulie sucks comb, and I don't care ...
.. his Master's goin' away!"

[TheGunslinger]

10. Isn't Chad part of the new front of *'s War on Terror?

The whole protect the Sahara exercises going on now?

[rman]

15. Would you believe Wolfowitz's predecessor was named "Wolfensohn"?

('son of wolf')

It's just a minor side-note, but rather striking none the less.