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"can you believe the Wall Stre...,
2005-12-13 14:20:02
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the air up there...,
2005-12-14 11:56:59
Gosh, who would have ever seen this coming:
In exchange for World Bank loans to build a 670-mile underground pipeline through Cameroon to export its oil, the Chadian government passed a law requiring that almost all of the money it earns on oil exports be spent for poverty reduction and that 10 percent be put aside as a "future generations fund," to leave something behind once the estimated one billion barrels of oil have been exhausted.
But in October, Chad's government abruptly announced at a meeting with the World Bank in N'Djamena, the capital, that it plans to alter that law and funnel more money into its general budget and increase spending on security.
Maybe that's why Shell and Elf pulled out of the project back in 1999? You see, for the regime to protect the oil pipeline they need to spend the revenues from it to purchase the equipment necessary to continue killing the people who's lives were disrupted by the pipeline to keep the pipeline safe from the people now disgruntled because of it and the massacres taken to ensure its construction.
:: posted by buermann @ 2005-12-13 15:59:32 CST |
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