New oil discovery [Archive]

Organic Revolution

22nd June 2007, 11:00

What do you think that the new oil discovery in Ghana means for the country and its people?

Personally I believe that it will rip the country apart like the oil did with Nigeria. Any opinions?

Raúl Duke

22nd June 2007, 13:20

agreed....;but I think its too soon to come to a conclusion.

It all depends, it may become some kind of contested hot zone between 2 factions (if there are rebels involved, etc) both looking to sell the oil, or it would exploited by multinational companies, or, very unlikely, Ghana would nationalize it.

Janus

22nd June 2007, 21:34

Even with the new oil find, Ghana's oil reserves are tiny compared to Nigeria which are over 36 billion barrels. As such I don't think this newly discovered petroleum reserve is going to impact Ghana's political structure in the same way as Nigeria.

Organic Revolution

23rd June 2007, 03:22

Ghana would nationalize it

Well the oil was discovered by the UK corporation Tallow, so I'm not sure If they can nationalize it.

Jazzratt

23rd June 2007, 12:14

Originally posted by Organic [email protected] 23, 2007 02:22 am

Ghana would nationalize it

Well the oil was discovered by the UK corporation Tallow, so I'm not sure If they can nationalize it.
I really doubt they can which means this oil will be a detriment to Ghana whilst being a boon for Tallow, which is a depressing thought.