Our World

Africa and Oil

Could Africa be the next oil giant? This is the question that this article asks boldly in its title. Sandile Nogxina is a Director General of Minerals and Energy and he is stressing the need to invest in oil. He believes that Africa could become the next oil provider of the world. He suggests a system where the oil is distributed to African countries first, to serve their needs. It is stated that Africa accounts for seven percent of the global energy resources and ten percent of the output. The oil in Africa is also in demand. President Bush asked for 27 percent of the US crude oil supplies to come from Africa. In a few years could Africa be outperforming the Middle East in oil production? What kind of effect will this have on Africa's economy?

posted by Anonymous @ 3/23/2006 11:31:00 PM