Tag: Natural Resources
Implementing Oil-to-Cash – Todd Moss
2/6/12
When a poor country finds oil, bad things often get worse. Countries rich in extractable natural resources, especially oil, frequently suffer from crummy governance, high poverty, endemic corruption and conflict. Is it possible to beat this oil curse? My guest on the Wonkcast this week, Todd Moss, CGD vice president for programs and senior fellow, says yes. He argues that a government that transfers some or all of its oil revenue to citizens in a universal, transparent, and regular taxable payment, could strengthen the social contract, fight corruption, and lay the foundation for future prosperity.
How to Turn Citizens into Owners of National Wealth
1/12/12
This post, co-authored with Alan Gelb, was originally published in Financial Times: This is Africa
On November 28 Anadarko Petroleum doubled the estimate of its massive Mozambique gas discovery. If this proves correct, Mozambique will become a major gas exporter and can expect a hefty windfall.
Mozambique is not alone. Per square mile, proven sub-soil assets in poor countries — notably in Africa — are only about one quarter of those in better-explored, rich countries. Not surprisingly, high prices and new technologies are driving new oil, gas, and mineral discoveries across the developing world. Billions of dollars will be pumped into countries like Uganda, Liberia, Papua New Guinea, Mongolia and Bolivia. While this should be good news, it also raises concerns.
Egypt’s Next Big Challenge: Overcoming Reliance on Rents
2/14/11
After the ouster of President Hosni Mubarak last Friday, I invited Arvind Subramanian, a former IMF resident representative in Cairo and a regular columnist for the Business Standard, the leading business daily in his native India, to share his views on Egypt’s economic prospects.
Afghanistan’s Latest Scourge: Al-Qaeda, Taliban, Opium Poppies, and Now…Copper?
6/17/10
The blogosphere is abuzz following the June 13 New York Times report by James Risen that Afghanistan is a potential El Dorado of minerals:
Attack on The Oil Curse in Nigeria!
10/20/09
Nigeria is proposing to transfer a 10 percent stake in the national oil company to delta communities; citizens of the delta would then be entitled to cash benefits, delivered through a trust-type mechanism. Read about it here.
That would be a real live breakthrough on a good idea proposed in CGD papers for Iraq and Ghana.
Ghana's Oil: Black Gold or Fools Gold?
10/19/09
Oil and Africa. Boon or bust? In CGD’s first Global Prosperity Wonkcast I interview senior fellow Todd Moss on his innovative proposal for managing Ghana’s anticipated $1 billion per year oil windfall: money to the people.
Obama Right to Highlight Ghana’s Success, But Will Oil Be the Spoiler?
7/6/09
President Obama's first visit to Africa will be to Ghana. This is no surprise: Ghana is a close U.S. ally and has been in many ways a model of both political and economic reform.
Nuhu Ribadu, Nigerian Corruption Fighter, in the House
5/26/09
Nuhu Ribadu, the former anti-corruption czar of Nigeria, is no longer on the job, but is still fighting the good fight. Nuhu was profiled in the Washington Post Outlook section, and explained why corruption “is the reason why Africa is Africa today.” Nuhu also testified to the U.S. House Committee on Financial Services late last week.