March 12th 2008 - March 12th 2008 Oil companies always at...

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March 12 th 2008 Oil companies – always at the top of the Forbes 500 list. The single most valued commodity, it is the most traded commodity and it figures into the price of so many other commodities. Major Oil producing countries in the world: 1. Saudi Arabia 2. United States Nigeria: one of the most populous regions in Africa (1 of 5 African’s are Nigerian). The oil that was discovered in Nigeria in the 1950’s is mostly in the southern part of Nigeria, around the Niger delta. Nigeria gain independence from the British in 1960. From very early on one of the major problems it faced was ethnic representation in the government; each ethnic group was thinking of who’s going to be dominant within the state. In the early years it looked like it was going to work things out, but the election of 1965 provoked the crisis over this issue (similar problem Europeans faced after WWI). The military staged a coup, and ever since the military has been dominated in the state. In 1960, Nigeria was producing 5 million barrels a year; by 1973 it was producing 600
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This note was uploaded on 08/03/2011 for the course HIST 102 taught by Professor Johnroosa during the Spring '08 term at The University of British Columbia.

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