Download The Looting Machine: Warlords, Oligarchs, Corporations, by Tom Burgis PDF

By Tom Burgis

One of economic occasions’ Books of the yr, 2015

The alternate in oil, fuel, gemstones, metals and infrequent earth minerals wreaks havoc in Africa. in the course of the years whilst Brazil, India, China and the opposite “emerging markets” have reworked their economies, Africa’s source states remained tethered to the ground of the economic provide chain. whereas Africa debts for roughly 30 in line with cent of the world’s reserves of hydrocarbons and minerals and 14 in step with cent of the world’s inhabitants, its proportion of world production stood in 2011 precisely the place it stood in 2000: at 1 percent.

In his first e-book, The Looting Machine, Tom Burgis exposes the reality concerning the African improvement miracle: for the source states, it is a mirage. The oil, copper, diamonds, gold and coltan deposits allure an international community of investors, bankers, company extractors and traders who mix with venal political cabals to loot the states' price. And the vagaries of resource-dependent economies may well pitch Africa’s new center category again into destitution simply as speedy as they climbed out of it. the floor underneath their ft is as precarious as a Congolese mine shaft; their prosperity may spill away like crude from a busted pipeline.

This catastrophic social disintegration isn't in simple terms a continuation of Africa’s prior as a colonial sufferer. The looting now's accelerating as by no means prior to. As worldwide call for for Africa’s assets rises, a handful of Africans have gotten legitimately wealthy however the overwhelming majority, just like the continent as an entire, is being fleeced. Outsiders are likely to think about Africa as a superb drain of philanthropy. yet glance extra heavily on the source and the connection among Africa and the remainder of the realm seems to be particularly various. In 2010, gasoline and mineral exports from Africa have been worthy $333 billion, greater than seven instances the price of the help that went within the other way. yet who obtained the cash? for each Frenchwoman who dies in childbirth, a hundred die in Niger on my own, the previous French colony whose uranium fuels France’s nuclear reactors. In petro-states like Angola three-quarters of presidency profit comes from oil. the govt. isn't funded through the folk, and as consequence it isn't beholden to them. A rating of African international locations whose economies rely on assets are rentier states; their everyone is mostly serfs. The source curse isn't simply a few unlucky financial phenomenon, the manufactured from an intangible strength. what's occurring in Africa’s source states is systematic looting. Like its sufferers, its beneficiaries have names.

Show description

Read or Download The Looting Machine: Warlords, Oligarchs, Corporations, Smugglers, and the Theft of Africa’s Wealth PDF

Best energy & mining books

Blowout and Well Control Handbook

As together with his 1994 e-book, complex Blowout and good keep watch over, Grace deals a ebook that offers verified practices and methods for good keep watch over, all according to sturdy engineering rules and his personal greater than 25 years of hands-on box event. particular events are reviewed in addition to precise techniques to investigate choices and take on difficulties.

Pressure Transient Formation and Well Testing

This reference offers a finished description of movement via porous media and suggestions to strain diffusion difficulties in homogenous, layered, and heterogeneous reservoirs. It covers the basics of interpretation suggestions for formation tester strain gradients, and pretests, multiprobe and packer strain brief assessments, together with spinoff, convolution, and pressure-rate and pressure-pressure deconvolution.

Oil and Gas Pipelines and Piping Systems. Design, Construction, Management, and Inspection

Oil and gasoline Pipelines and Piping platforms: layout, development, administration, and Inspection grants the entire severe points wanted for oil and fuel piping and pipeline situation tracking and upkeep, in addition to strategies to lessen high priced disruptions inside operations. damaged up into logical elements, the ebook starts with insurance on pipelines, together with crucial subject matters, resembling fabric choice, designing for oil and fuel primary amenities, tank farms and depots, the development and installment of transportation pipelines, pipe cleansing, and upkeep checklists.

Additional resources for The Looting Machine: Warlords, Oligarchs, Corporations, Smugglers, and the Theft of Africa’s Wealth

Example text

25 party’s list would become president. 33 “The company has fully co-operated with the SEC in this matter and intends to continue to do so,” Cobalt announced. Joe Bryant called the SEC’s decision “erroneous” and said Cobalt would continue to develop its Angolan prospects. At the time of writing no proceedings have been brought, and Cobalt continues to deny wrongdoing, as it has throughout. Cobalt’s share price, which took a billion-dollar hit after news of its secret Angolan partners emerged and declined even further after some mediocre drilling results, fell another 10 percent when the SEC’s warning emerged.

Corporate records are not easy to obtain in Angola, even though any company is supposed to be allowed access to its partners’ records. I was able to get hold of Nazaki’s registration documents, and its influential trio of owners appear nowhere on them. But there were some clues. One document names a man called José Domingos Manuel as one of Nazaki’s seven shareholders and the company’s designated manager. 13 That might have raised a red flag for any company considering going into business with Nazaki: it demonstrated a clear link between one Nazaki shareholder and three of the most powerful men in the Futungo.

Just before dusk each day the valleys fill with a spectral mist, as though Earth itself had exhaled. The slopes drop down to Lake Kivu, one of the smaller of central Africa’s great lakes but still large enough to cover Luxembourg. On some days the waters lap serenely; on others, when the wind gets up, the lake turns slate-gray and froths. At the northern shore stand the Virunga, Lake Kivu’s crown of volcanoes. Beneath the beauty there is danger. From time to time the volcanoes tip lava onto the towns below.

Download PDF sample

Rated 4.80 of 5 – based on 36 votes