Saturday, September 6, 2008

Meanwhile in Africa...

people are unable to live at subsistence level. Oil and mining companies continue to make incredible profits from resource rich environments but such revenues fail to reach the common citizen. Exxon Mobile's record quarterly profits of $11.1 Billion comes in the wake of record levels of poverty in Africa and a ever-growing gap between the world's richest and poorest nations.

Corruption reigns supreme, leaders hoard any wealth that is created, the local populace emulates such behavior and the day-to-day survival depends on a bribe here and a favor there. Swaziland, a country of incredible poverty and equally incredible mineral resources, is but one example of power run a muck and a populace ignored by its wealth-hungry leaders. Chumming with China, Shell and BP, these leaders grow to dismiss their people and lavish gifts upon themselves and their loved ones. To create a more egalitarian global economy and to improve the security of nations who depend on oil and other resources from overseas; a wise decision would be to promote real economic growth -- demanding that 50% of profits be made available to social projects and revitalizing foreign development, while simultaneously revoking the ability of foreign governments to handle or have access to currency. Or something like that.

NYT Series explores the role of resources in African conflicts

A new series from the New York Times is delving into the role of natural resources in African conflicts.  The series begins in Congo, where...