Oil Prices
Out of context: Reply #33
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- mpfree0
http://www.irinnews.org/report.a…
Sao Tome & Principe sitting on a diamond, corrupt before it even hits the surface. Don't blame the companies, blame the accountability of their own governments.
-Since then, there have been few other signs of trouble, even during three rounds of national elections in 2006, in which Nigeria provided campaign funds to many candidates, and there were widespread reports of vote buying.
Oil companies have, however, already paid out some $237 million for the right to look for the oil, although only a fraction of the money has gone to Sao Tomeans.
Yet, even out of the estimated US $80 million that Sandbu reckons the government has received, less than US $30 million has gone into government coffers, with the rest being invested in New York on interest-bearing securities.