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With the recent discovery of a massive crude oil field in Ghana's Gulf of Guinea, the West African nation has joined the ranks of Africa's largest oil producers.
Now the question looms: Is that a good thing for Ghana?
Last week, in a live televised event, Ghanaian president John Atta Mills (pictured above left) turned on the oil valves to start the flow of oil in the Jubilee oil field, which holds an estimated 1.8 billion barrels of oil and will begin producing 55,000 barrels per day in weeks.
The new oil wealth could bring $1 billion a year into the government's coffers.
On the surface, it seems that Ghana, among the most successful nations on the continent, should do well with its new found oil wealth.
Though impoverished, Ghana is doing better than most other African countries with healthy trade partnerships around the world, diversified economy and stable political leadership.
The construction of schools, hospitals, roads and water systems should take priority for the government -- not building armies and lavish palaces.
But Ghana wouldn't be the first country to squander new oil wealth if leaders were to allow greed and corruption to flow along with the oil.
All Ghanaian leaders need to do is look east to Nigeria to see how to waste the good fortune oil reserves should bring.
Comments: (7)
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By: G.Anderson on 12/21/2010 2:03PM
Hopefully, the Ghanian government will use this wealth wisely to build its infrastructure systems(water, electric, schools, hospitals, airports, roads and highways, railsystems, communications systems, agriculture,and housing developments). After all, why can't Ghana or any other African country be as wealthy as Dubai or more? Africa is the birthplace of creation and civilization. That's where it all started. Many great kingdoms and cities were built on good infrastructures because good infrastructures bring businesses, commerce, people and more. The most important work that needs to take place on the African continent is the wholesale nationwide dismissal of European colonial mindsets, ideas, philosophies, and dependence. There is no need to keep mimicking the western eurocentric ideas of massive militaries, huge palaces/castles, class politics, and trickle-down economics that concentrates wealth in the hands of a few. There must be a wholesale nationwide return to the indigenous principles, philosophies, and ways of our great Afrcan ancestors who built all the great kingdoms in Africa like Songhay, Mali, Egypt, Ethiopia, Ghana, and Timbuktu. These places were not just built on military power but were major meccas for science, education, commerce, culture, religion, philosophy, and centers for higher learning and thinking. These great African kingdoms would make Rome, Greece, Babylon, and even the United States in their glory days look like ghetto slums. As Africans we did it before and we can do it again and better. As organized people with free minds we can accomplish so much more. If our brothers and sisters in Africa can rebuild on those things I mentioned with any help we can offer then someday we as black people in America can go back home and live as free people again. I'm sure our ancestors would love that. SANKOFA - TO RETURN TO ONE'S PAST. TO GO BACKWARD TO MOVE FORWARD.
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By: blackbear72 on 12/21/2010 11:04PM
G Anderson, you are living in a fantasy world, you really believe that the U.S. is a slum compared to some ancient African kingdom? You cant be that naive or that insane. By the way western egocentric ideas had no effect on those, supposed, great African kingdoms. Those societies were long gone by the time Europeans came to Africa. Also, each of those, supposed, great societies were the example of wealth in the hand a very few, namely the royalty. Who do you think built the pyramids? Slaves and they also most likely built those other kingdoms you speech so lovingly of. And those infrastructure systems you want Ghana to build, all European inventions.
The best part of your crazy post is the fact that you want the present day Africans to rebuild their nations with this newly gained riches and after they do you as black Americans can go back home and be free again. Why not go home to Africa now and help rebuild your homeland? Why must a free and rebuilt nation have to be a reality before you go back? Why as a black American, do you seem to have more concern for Africa then America? Are you not free in America?
Sankofa, can be a reality for you and any other black American, by simply buying a one way air ticket.
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By: KojoC on 12/21/2010 7:18PM
Concerning Ghana's oil: Is it true that Ghana only recieve 10% of its oil revenue???
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By: EbonyLeaf on 12/21/2010 2:43PM
@ G. Andersonn,
Well said my brother, well said! I am so sick and tired of seeing Africa's wealth plundered, and sadly is being done by its own people. I know that Africa can not be spoken of in terms of a country, but the whole damn continent (especially Black African nations) need to wake up and reflect on its rich heritage. Africa was once the playground of the rich and famous, this is the place people went to for riches and for survival (and in most cases still do). We as a people need to stop the corruption and uplift ourselves. It is heartbreaking to see China and India industrializing at such a rapid rate, and Africa is still falling behind. China and India (Chindia) already have their hands in the cookie jar in their relations with Africa. Hell, no one can blame them, its a smart move. On the other hand, Africa must make the decision to monopolize on such connection and resources, or to be pimped once again not by Whites, but by other nations of color!
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By: The Cynic on 12/24/2010 5:04PM
Curse, curse, curse, curse, curse, curse. I'm not even going to pretend to be optimistic about this. Do you know how much profits Ghana gets from it's gold? THREE percent while the West gets 97%. That figure should obviously show the amount of corruption in this world. I feel sorry for my African ppls. These are some great docs about how multinational corporations and international banks exploit the third world.
Banking Into Submission
http://www.youtube.com/watch?v=k_3K1PCZHE0
World Bank creating poverty (BBC Newsnight)
http://www.youtube.com/watch?v=DrynBzUpyag
John Perkins - America's Secret Empire
http://www.youtube.com/watch?v=e0JCJ4pIFEw
Ugh I am so mad they took of John Pilger's documentary, "Who Are The New Rulers of The World." I believe it was the best doc on this subject. If you can find it and watch it I implore you. Neo-colonialism is NOT a myth and it is one of the biggest subjects of our time. Learn all about the IMF & World Bank along with the CIAs cold war history.
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By: dwayne belton on 12/22/2010 9:00AM
HERE COMES AMERICA! you are now in the back rooms of the u.s. government on how they can get "dat earl". you will soon be occupied by int'l forces because of human rights viloations, or you'll be a labled a terroists nation and if none of that floats then hell they'll just come in and occupy and put in the leader of their choice that'll give them the "earl" at the expense of his peoples lives and finally end up arresting him/her and make it a white nation. all with the approval of "MAIN STREAM" americans." LOOK OUT", AND BEST WISHES.
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By: Rochelleim H. Williams on 12/23/2010 5:24AM
Certainly finding oil anywhere creates a nice industry, but unless those reserves are particularly large, then Ghana won't be out of the woods yet.The cost of manufacturing the pumps and refineries as well as the workers who will operate them (and training) could put a big damper on the help this will bring unless there are substantial reserves...
http://genitalwartsreliefsite.com/genital-warts-few-treatments-to-provide-fast-and-effective-results.html
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