oil curse

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Information about oil curse
Education

Published on July 3, 2009

Author: 370481198507023851

Source: authorstream.com

A Pipeline of Good Intentions : A Pipeline of Good Intentions What is “oil curse” The background of Chad and Cameroon Chad-Cameroon Petroleum Development and Pipeline (PDP) project The concerned parties Revenue management What learn from the case? The definition of oil curse : The definition of oil curse The oil curse is a term often used in explaining why many countries rich in natural resources remain underdeveloped and unstable. Corruption and the lack of democracy are often cited as factors. Background of Chad and Cameroon : Background of Chad and Cameroon Landlocked in central Africa, Chad, with a population of about 7 million, is one of the poorest countries in the world. Its per capita GNP (gross national product) was about $230 in 1998. 80 Cameroon is a country of striking diversity - in geography, climate, people, culture, religion, language, education and economic structure. It has a population of 14 million and a per capita GNP of about US$610. Chad-Cameroon Petroleum Development and Pipeline (PDP) project : Chad-Cameroon Petroleum Development and Pipeline (PDP) project The project, to be implemented over a five-year period, will take oil from the Doba basin to off-loading facilities off the coast of Cameroon.1 The drilling of some three hundred wells in fields in southwestern Chad that hold about 900 million barrels of oil; while the Doba basin was estimated to hold 2 billion barrels of oil. 2 The construction of an export system that consists of a 1070km (650-mile) buried pipeline to the coast 3 $ The concerned parties: : The concerned parties: Exxon Mobil 40%Chevron 25%Petronas of Malaysia 35%? Revenue management : Revenue management Chad agreed to enact the Petroleum Revenue Management Law 10% of the royalties were to be put in a separate fund to benefit future generation of Chad. The remaining royalty revenues were to be spend according to the formula: The World Bank : The World Bank The World Bank is a vital source of financial and technical assistance to developing countries around the world. It is not a bank in the common sense. It made up of two unique development institutions owned by 185 member countries—the International Bank for Reconstruction and Development (IBRD) and the International Development Association (IDA). Each institution plays a different but collaborative role to advance the vision of an inclusive and sustainable globalization. The IBRD focuses on middle income and creditworthy poor countries, while IDA focuses on the poorest countries in the world. Together they provide low-interest loans, interest-free credits and grants to developing countries for a wide array of purposes that include investments in education, health, public administration, infrastructure, financial and private sector development, agriculture, and environmental and natural resource management. The discovery of oil is usually celebrated as a one-way ticket to wealth and economic growth. Yet evidence indicates that the presence of oil in a developing country makes life worse, not better, for most of the people who live there - particularly the poorest people. ? : The discovery of oil is usually celebrated as a one-way ticket to wealth and economic growth. Yet evidence indicates that the presence of oil in a developing country makes life worse, not better, for most of the people who live there - particularly the poorest people. ? The problem is not oil in itself but how we manage it. We need institutional capacities and a political will but the Chadian state doesn’t have. A growing number of countries turn to the World Bank to ask for advice on how to exploit their natural resources in a way that results in development outcomes, like Botswana for instance, which was a very poor country that managed to transform its economy thanks to its mining resources Thank you! : Thank you! If you are interest in this case, we can discuss the details after class!

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