Chad Threatens World Bank With Oil Cut Off

[Eugene]

Chad Threatens World Bank With Oil Cut Off


Saturday April 15, 2006 12:46 PM

AP Photo NAI104

By LES NEUHAUS

Associated Press Writer

N'DJAMENA, Chad (AP) - Chad on Saturday threatened to cut off its flow of oil unless
the World Bank releases funds frozen in a dispute over how the central African country
should use its oil revenues.

The announcement followed a late night meeting between President Idriss Deby and his
Cabinet ministers to discuss their response to a rebel attack on the capital. The rebels
were repulsed but they are believed to be regrouping nearby and the threat of a violent
overthrow of Deby's government has not diminished.

The government presumably wants the frozen funds to finance its fight against the rebels.

Chad had a deal with the World Bank for the financing of a pipeline on condition that most
of the revenues would be used to alleviate poverty. Deby broke that deal earlier this year
so he could use the money to finance his military and the World Bank suspended $124 million
in aid to his government.

<snip>

Full article: http://www.guardian.co.uk/worldlatest/story/0,,-5757452,00.html

[Oversea Visitor]

1. Haha their oil

But not their money haha
Cant even use it to protect themself

Whee whar World Bank want
For them to get overthrown :rofl:

[Skink]

2. The trouble with Chads

[cliss]

3. No one should call them foolish!

Even the leaders in Chad understand that the West is desperate for oil.....Black Gold......

Look at Nigeria. They kidnapped 9 oil facility workers, 3 of whom are Americans. They asked for "more equitable distribution of oil revenues".

They know what's going on.

Look for oil to go up again.

[gizmo1979]

4. That'll push a barrel of oil over

75 bucks.When will it end.

[SoCalDem]

5. Chad Threatens to Cut Off Oil Pipeline

http://news.yahoo.com/s/ap/20060415/ap_on_re_af/chad;_ylt=Apy4cgTdS2NdpUDqORyweris0NUE;_ylu=X3oDMTA3b3JuZGZhBHNlYwM3MjE-


Chad Threatens to Cut Off Oil Pipeline

By LES NEUHAUS, Associated Press Writer
1 hour, 47 minutes ago



N'DJAMENA, Chad - Thousands rallied Saturday in Chad's capital to support the president following a defeated rebel attack, while the oil minister threatened to shut down the country's oil pipeline unless the government is compensated for frozen oil revenues. President Idriss Deby's government appears desperate to attract international attention to solve Chad's political, economic and security problems. Oil Minister Mahmat Hassan Nasser told The Associated Press in an interview Saturday that the pipeline would be shut down unless the international community ensured Chad received its oil royalties by midday Tuesday.

Chad's oil exports — 160,000 barrels per day — are small by international standards and have a high sulfur content, reducing their value. But Deby appeared to be gambling that any threat to the world oil supply, no matter how small, will bring attention to his plight and free up needed funds to finance his government.

The warning came a day after Deby announced that he was severing relations with neighboring Sudan and threatened to expel 200,000 refugees from the Darfur region if the international community did not do more to stop what he claimed were Sudanese backed-rebels from destabilizing his government before the May 3 presidential election


snip

[MisterP]

6. looks like Chad's getting a ticket to Couptown:

"It also cut $124 million in financial assistance after Chad changed an oil revenue law passed in 1999 as a condition for the World Bank's support for the pipeline."
Neoliberal "I see no famine" Niger is right next door.