#10415 May 17, 2013
Ask me anything
The Looting Of Nigeria: BIG OILs $140 Billion A Year and Counting By Thomas C. Mountain
By Thomas C. Mountain
As western oil companies loot some $140 billion a year of Nigerias black gold, two thirds of the countrys 100 million people live on less than $2 a day.
Nigerias official oil production figures show about 3 million barrels a day being pumped from their oil fields into the holds of western tankers, though for decades now informed observers have estimated up to one third of all Nigerian oil is actually stolen, secretly loaded onto oil tankers after bribes are paid to corrupt government officials.
If 4 million barrels of oil are being shipped out of Nigeria daily at $100 a barrel, times 30 days a month, times 12 months, you arrive at almost $150 billion a year in potential oil revenues for Nigeria.
The problem is not just theft but the fact that the western oil companies are literally looting Nigerias oil, paying as little as a 9% royalty.
Do the math, 9% of $150 billion minus the one third oil that is stolen and the Nigerian government only receives about $10 billion a year of this amount.
Simply put, at $100 a barrel, the western oil companies get $91 and Nigeria only gets $9. Or more shockingly, Big Oil makes $140 billion a year vs. Nigerias $10 billion.
The Big Oil robber barons famously promote themselves as investors in Nigeria, though when looking at the loot they are making from what should be Africas richest country it is doubtful that they have invested $140 billion in Nigeria in total over the last decades (Big Oil is notorious for sticking the host countries with a major share of infrastructure expenses, deducted from their royalty checks).
In other words, Big Oil has made its investment back almost exponentially. And all the while Nigerians are hungry, sick, and increasingly fed up.
What have the people of Nigeria gotten from all this wealth being looted from their country?
Malnutrition and disease are rampant across the country. Many if not most of Nigerias children have never seen the inside of a school room. Many if not most of Nigerias people simply cannot afford even primary medical care. Malaria, water borne diseases, TB, HIV/AIDS, the list of sicknesses killing Nigerians in the thousands every day is criminal.
Nigerias environment has been a victim with a large swath of the coast lying under a toxic blanket of oil, mainly as a result of the criminal failure of Big Oil to do even basic maintenance on its pipelines.
Yet Nigeria has the largest, best equipped army in west Africa, the better to enforce Pax Americana. As I write, Nigerian troops are pouring into Guinea Bissau, there to restore democracysomething they have done many times in the past.
Nigeria should be wealthy, its people the envy of Africa, if not the entire developing world. Instead its cities are filled with homeless children begging for their daily bread.
Nigeria imports almost all of its fuel needs, selling its oil for $9 a barrel and buying back the gasoline, diesel and kerosene made from its oil for hundreds a barrel.
Nigeria is in constant need of IMF bailouts and pays the price for such predatory loans. Earlier this year after Queen of the IMF, Christine Lagarde, paid a visit, Nigerian President Badluck Jonathan was forced to kneel down and kiss her feet, promising to more than double the price desperate Nigerians are forced to pay for their fuel.
The kleptocrats that rule Nigeria under the banner of democracy, for they stole the elections fair and square, cannot even provide electricity to their people, with most Nigerians receiving only a few hours a day of electric supply, if any at all.
Nigerias other infrastructure, what little there is, decays by the day with even its once functional railroads now barely operational.
#10416 May 17, 2013
#10417 May 17, 2013
Whites Only Scholarship Creates Outrage
#10418 May 17, 2013
Like I've stated time and time again, we're as much the same as we're all different.
#10419 May 17, 2013
White Robber Uses BLACK MAN MASK to Rob Banks!
Ole alpha surely know how to put all the blame on black men. Another way to learn how stereotyping of black men got started!
#10420 May 17, 2013
#10422 May 17, 2013
Guys I'm about to heat this page up! You may want to get a cold drink so y'all won't get over heated...lol
See the beauty when mixing that strong black gene.
And a tribute to Asian men too. It's all good.
#10423 May 17, 2013
#10424 May 17, 2013
#10425 May 17, 2013
Akon, take us away....!
#10426 May 17, 2013
Ok Ne-Yo, I'll spot you this time.
Oh my, the women!
#10427 May 17, 2013
#10428 May 17, 2013
Like i said time and time and time and time again, somebody offering a different viewpoint is not debunking me in the slightest. Anybody can come on here and twist facts and misrepresent the truth to suit their own agenda.
What is worrying is that WhatWait so mindlessly shared Mandingo's post without even thinking about whether it was factually correct or not. Just because so something is posted online doesn't necessarily make it true.
Sadly this is what happens when you try to have a sensible conversation with chimps.
#10429 May 17, 2013
#10431 May 18, 2013
#10432 May 18, 2013
Somebody tell our resident troll all monkeys aren't black. They come in a variety of colors. It's just darker genes rule even in animals too...lol
And yes, "EVEN WHITE!
Jackson find your ancestors amongst these creatures.
Therefore, IF YOU LOOK CLOSER AT THEM YOU'LL SEE EVOLUTION.
When you deny one human species, you are admitting you hate being born into the human race!
Food for thought...
#10433 May 18, 2013
Britain did a lot of harm to many countries over the centuries.
China was one of them. At one point and time back in history Britain flooded china with so much "drugs" it turned china into a drug dependent country for a vast number if Chinese people. They lived for the drugs after getting hooked on it. The leaders of china was begging Britain to stop flooding their country with drugs but Britain wasn't concern about the affect it was having on Chinese people because if they stopped flooding that country with drugs the money would dry up!
Then china and it's people fail from grace due to Britain's greed of money and status.
#10434 May 18, 2013
Re:black african and chinese girls.
« Reply #17 on: May 07, 2006, 02:44:37 AM »
I am a Chinese living in the U.S., but believe me, I will not hesitate to speak out for you and your wife if I am there.
I was born and raised in China, and never experienced racism until I got to the U.S.
Believe or not, like many Chinese, I would face prejudice in Shanghai and Guangzhou now and then if lived there because I am not native there, which was why many non-native Chinese picked Shenzhen over Guangzhou when they wanted to make their career in South China. Thank god, not all Chinese are ignorant snobs.
It is wonderful to see Chinese marry Africans. I believe your kid must be very beautiful and bright, your wife got to be very courageous, wise and lucky to have you. She should tell those Chinese not to envy her smart choice for an educated, loving and handsome African husband and go find their own. The best way to fight ignorance is to enlighten the people. The more they know you, I believe, the more they will like and love you. You and your wife have nothing to be shame of but much to be proud of.
Moving to a big city where people don't look at foreigners as endangered species definitely is a good idea. Among all the cities I lived before, I like Beijing best. But really, I would like to say I am so glad to see more Africans coming to China and more Chinese going to Africa. You are creating the history that is important for Chinese to learn from Africans and wise up, which Chinese including those brought you unpleasant experiences will appreciate eventually. Just wish you all the best, brother.
#10435 May 18, 2013
Re: black men and chinese women
« Reply #18 on: May 09:39:29 AM »
Hey everyone ,
I am a Chinese girl.and I think marriage between black african and chinese girl 's pretty cool.I had an African boyfriend before ,he's from Guinea.I was thinking about marrying him,but he didnt' think so .He's doing business in china,and he devoted all his time to his business.I had never seen him in the daytime coz he got no time.The only time we can meet is in the night and sometime we can't see each other during one month.I can take that coz i think he's a resposible and ambitious man.But when i started talking about marriage,he's kinda "afraid",and after that ,he tried to hide from me.I am not so stupid ,i can feel something's wrong ,and i guess it's because i was serious and he's not .Though it's hurt ,but i had to take it.So i called him one day (we haven't seen each other for more than one month) and end this so called relationship.I cried and my heart's so painful.
I don't know If the African guys here who's dating Chinese girls are serious or just for passing time. Foreigners often tell me that Chinese girls take too serious about marriage.when you tell her that you love her ,she will directly think about marriage.Marriage 's not the end of love. Well,i should say that marriage is not the end of love but the way to continue your love coz you are going to have kids and that will lead to more love and more connection between two lovers .
#10436 May 18, 2013
« Reply #21 on: May 15, 2006, 06:40:55 PM »
I have seen a African-Chinese boy appeared on a kid talent show on TV. His name literally means "African dragon". Mother Chinese and the father a Nigerian. A TV host in Shanghai TV is a American African, he learned the Shanghaies culture fast as he seems to be afraid of his Chinese wife. ;D
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