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t r u t h o u t | A Humanitarian Disaster in the Making Along the Chad-Cameroon Oil Pipeline - Who's Watching?
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The World Bank’s public sector lending arms (the IDA and IBRD) announced their withdrawal from the project in 2008 stating “Chad failed to comply with key requirements” of their participation, though the World Bank’s private sector lending arm (the IFC) had no problem staying on board to reap the benefits of its $200 million commercial loan.
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Exxon and the project planners claimed that compensations would be paid to displaced people, but that “self resettlement” would take place naturally whereby villagers would find/purchase new land for farming from a “village land pool.” A recent Chadian report notes that this has not happened; many farmers have not found land or enough land. Agricultural production is continually declining and will ultimately penalize the entire country.
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Independent Evaluation - Lessons from an Evaluation of the Chad-Cameroon Oil Development and Pipeline Program
Compare this latest evaluation with the December 2006 World Bank report: http://go.worldbank.org/NK5U64X7U0 That report also concentrated on the failings of the government and suggested that the design was satisfactory.
Exxon Said to Pay $4 Billion for Stake in African Field - NYTimes.com
"While major companies like Exxon have focused on developing large oil and gas projects, much of the riskier and more prospective exploration has been undertaken by smaller, independent producers like Anadarko Petroleum, Tullow Oil and Kosmos. "
The demise of the dollar - Business News, Business - The Independent
The plans, confirmed to The Independent by both Gulf Arab and Chinese banking sources in Hong Kong, may help to explain the sudden rise in gold prices, but it also augurs an extraordinary transition from dollar markets within nine years.
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The plans, confirmed to The Independent by both Gulf Arab and Chinese banking
sources in Hong Kong, may help to explain the sudden rise in gold prices,
but it also augurs an extraordinary transition from dollar markets within
nine years.
International Crisis Group - B65 Tchad: sortir du piège pétrolier
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Add Sticky Noteoil has become a means for the regime to strengthen its armed forces, reward its cronies and co-opt members of the political class. This has further limited political space for the opposition and helped keep the country in a state of political paralysis that has stoked the antagonism between the regime and its opponents. As a result, there is recurrent political instability that is likely to ruin all efforts to use oil for the benefit of the country and its enduring stability. For the people who have not seen their lives improve and who are subjected to increased corruption, oil is far from a blessing. Given the current situation, the following measures should be taken to extricate Chad and its external partners from the petroleum trap:
- This report attempts simply to assign the "oil curse" appellation to Chad, as well as to promote the same institutional changes that were supposed to be in the original projects. Instead, one should ask: Why is oil flowing well while the country continues to implode? Why is this situation very similar to the history of the Niger Delta? - on 2009-10-05
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