Sunday, September 1, 2013

Oil drilling in Africa could lead to 'The Resource Curse' (VIDEO)

New technologies mean 12 nations in eastern and western Africa, including Kenya, Ethiopia and Ghana, will become major oil exporters in next decade.

These new oil and gas exports could pour $3 trillion into economies that had a combined GDP in 2011 of only $181 billion. RT's Sam Sacks speaks with Richard America, an adjunct professor at Georgetown University, and Nii Akuetteh, the founder of Democracy and Conflict Research Institute, about ways African countries can take advantage of their new-found wealth without falling victim to "The Resource Curse" of increased wealth inequality and corruption and decreasing democratic institutions and quality of life.

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