it is clear that soaring oil prices are undermining the benefits of debt cancellation in some countries, especially poor oil-importing nations.
Contents contributed and discussions participated by Arabica Robusta
allAfrica.com: Ghana: Government Prepares to Battle the 'Oil Curse' (Page 1 of 2) - 0 views
-
"At this point we acknowledge that we lack the know-how to manage this enormous resource but we are blessed with the experience of others," said Francis Ackah, engineering manager of the Ghana National Petroleum Company (GNPC), the agency which oversees the country's petroleum resources.
Extractive Industries Transparency Initiative - 0 views
-
3.5 billion people live in countries rich in oil, gas and minerals. With good governance the exploitation of these resources can generate large revenues to foster growth and reduce poverty. However when governance is weak, it may result in poverty, corruption, and conflict. The Extractive Industries Transparency Initiative (EITI) aims to strengthen governance by improving transparency and accountability in the extractives sector. The EITI sets a global standard for companies to publish what they pay and for governments to disclose what they receive.
Legal Oil - 0 views
-
Theft of oil costs oil companies, governments (and the communities they serve) hundreds of millions of dollars each year in Nigeria alone. In addition to loss of revenue, oil theft fuels violence and insecurity, feeds corruption, finances the purchase of
Extractive Industries Advisory Group, September 11-12, 2007 Meeting Minutes - 0 views
-
"It was noted by an Advisor that work done by ICMM (International Council on Metals and Mining) showed that the resource curse was not inevitable. The ICMM studies showed that some countries did manage to use the development of their mineral endowment as a base for faster growth although experience had been variable. The key difference between countries that had been successful in doing this and those that had been less successful was in the overall policies adopted by governments. The issue was how to ensure that appropriate pro development policies were adopted and implemented effectively and to ensure that the World Bank was engaged where its support was needed."
Human Rights, Violence and the Oil Complex - 0 views
-
A particularly perceptive quote is below: "Oil has specific properties (it is a fluid, it tends to be moved in pipelines, it has a particular market structure, oil corporations have distinctive attributes and so on). But in this sort of analysis it is not clear what causal powers these material and other features of oil actually possess. Ross's analysis [of the "resource curse"] on its face might just as well hold for gold in South Africa. Furthermore if oil hinders democracy (as though copper might liberate parliamentary democracy?), one surely needs to appreciate the centralizing effect of oil and the state in relation to the oil-based nation-building enterprises that are unleashed in the context of a politics that pre-dates oil."
Analysis of implementation of revenue transparency commitments of IFC and EBRD loans | ... - 0 views
-
After visiting the companies' websites in search for information on revenue payments to host county governments, BIC wrote emails to the contacts specified in the respective Summaries of Proposed Investments and Project Summary Documents, respectively. From research on the websites, only one company, Cadogan Petroleum (EBRD investment) had very accessible and transparent statistics on its payments to governments.
ADB backs Extractive Industries Transparency Initiative | Bank Information Center: Moni... - 0 views
-
Following similar announcements by other multilateral development banks, the Asian Development Bank (ADB) last week endorsed the Extractive Industries Transparency Initiative (EITI).
Oil: Fueling Another Debt Crisis? - 0 views
-
-
In Escaping the Resource Curse, Columbia University professors Macartan Humphreys, Jeffrey Sachs and Joseph Stiglitz identify a vast array of contributing causes to the resource curse. Corruption is among the most severe, they conclude. “The short run availability of large financial assets increases the opportunity for the theft of such assets by political leaders. Those who control these assets can use that wealth to maintain themselves in power, either through legal means (e.g., spending in political campaigns) or coercive ones (e.g., funding militias).” Local corruption, they note, is often aided and abetted by international companies. “International mining and oil companies that seek to maximize profits find that they can lower the costs of obtaining resources more easily by obtaining the resources at below market value — by bribing government officials — than by figuring out how to extract the resources more efficiently.”
-
Corporate and government underpinnings of "resource curse."
-
-
High oil prices have a clear economic effect. But for highly indebted, impoverished countries, climate change, fueled significantly by CO2 emissions from cars and other gas-guzzling vehicles in the North, will have serious ecological, social and economic impacts as well.
- ...1 more annotation...
-
it is clear that soaring oil prices are undermining the benefits of debt cancellation in some countries, especially poor oil-importing nations.
« First
‹ Previous
221 - 232 of 232
Showing 20▼ items per page
Arabica Robusta