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ID:
075085
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| Publication |
2006.
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| Summary/Abstract |
The world's major oil-consuming nations, led by the USA, China and the Western European countries, are keenly interested in the development of African oil reserves, making huge bids for whatever exploration blocks become available and investing large sums in drilling platforms, pipelines, loading facilities and other production infrastructure. Indeed, the pursuit of African oil has taken on the character of a gold rush, with major companies from all over the world competing fiercely with one another for access to promising reserves. This 'oil rush' has enormous implications both for African oil producers and for the major oil-importing countries. For the producing countries it promises both new-found wealth and a potential for severe internal discord over the allocation of oil revenues (or 'rents'); for the consuming countries, it entails growing dependence on imports of a vital substance from a region of chronic instability, with obvious national security overtones. Both these trends are reflected in US policy towards African oil. Desperate to procure additional supplies of foreign oil (to make up for the decline in domestic output), the Bush administration has made strenuous efforts to increase the role of US energy firms in African production. But because instability in Africa is an obstacle to such investment, it has sought to boost the internal security capacity of friendly African states and has laid the groundwork for direct US military involvement in Africa. At the same time Washington has become deeply concerned by China's growing interest in African oil, provoking an intense competitive contest between the two, with growing military overtones. In the end African societies will most probably suffer from this competition as an influx of arms bolsters the capacity of entrenched African regimes.
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| 2 |
ID:
051954
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