Africa’s Next Petrostate
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  • vanderleun

    For a riveting photoessay of what happens when an African state gets oil money, see Alan Taylor’s “Nigeria: The Cost of Oil” from The Atlantic.

    http://www.theatlantic.com/infocus/2011/06/nigeria-the-cost-of-oil/100082/

    Fascinating and chilling.

  • Toni

    This has long been known as the Oil Curse. The MidEast has theocracies run on petrodollars. Africa has revolutions and corruption fueled by same. Ditto Venezuela. I believe Sudan’s genocide was inspired not only by religious differences but by the northern Muslims wanting to drive Christians out of the oil-rich south.

    The key in all cases is that oil revenue and taxes let the countries get by without developing industry or any sort of other economic base. When oil prices sink, as they inevitably do, these states have nothing else to fall back on.

    In recent decades, of course, the Oil Curse in Africa has been joined by the Diamond Curse.

  • When God wishes to curse a nation, he puts oil under its soil.

  • srp

    I’m not sure oil-subsidized health clinics would be a good sign for Liberia. Widespread ownership of BMW dealerships would be a much more positive indicator.

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