nigerianoil - Nigerias Oil Economy Nigerias A case study in...

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Nigeria’s Oil Economy Nigeria’s Oil Economy A case study in political A case study in political ecology ecology
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Contrasts Wealth in Natural Resources Nigeria is ranked number 11 among the world’s oil producing states Production = 2.6 million barrels per day in 2005 At $55 a barrel, that’s $143 million a day, or $52 billion/yr. Poverty of Local Population GNI per capita: $390 (US over $40,000, Mexico is about $10,000) more than 70% of the Nigerian population lives in poverty Where does the money go?
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Demographic indicators Life expectancy: 46 yrs. (versus 78 in the US) Infant mortality rate: 183 per thousand in the first 5 years (versus 8 in the US) Health expenditures per capita $8/yr. (versus $4,500 in the US) TFR: 5.2 (versus 2.1 in the US) Percent of population under 15 yrs. of age: 44% (versus 21% in the US)
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A growth industry
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Who Profits? Nigerian National Petroleum Company (NNPC) Up to 80 percent of these revenues accrue to 1% of the Nigerian population (www.eia.doe.gov) Transnational Oil Corporations drilling in Nigeria Shell ExxonMobil ChevronTexaco Total
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Oil Company Revenues (global) Shell: $18.2 billion net income ($10 billion in dividends paid to shareholders last year) ExxonMobil: $25.3 billion net income ($15
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nigerianoil - Nigerias Oil Economy Nigerias A case study in...

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