In this graphic, you can see that according to Oil Change International analysis, governments around the world are spending perhaps more than $1 trillion USD combined per year subsidizing the fossil fuel industry.
Crunch time for the EITI
Tomorrow the International Board of the Extractive Industries Transparency Initiative is holding its Annual meeting in Berlin. The EITI was set up by ex-British Prime Minister, Tony Blair to try and improve improved governance in resource-rich countries through the verification and full publication of company payments and government revenues from oil, gas and mining. The … Read More
The rhetoric changes but what about the reality?
It was a great speech full of powerful oratory. When Obama addressed the Ghanaian parliament on his first trip to Africa over the weekend, his speech was peppered with the concepts of America and Africa working together in a powerful, partnership. Obama told his audenice that Africans needed to remove the millstone of conflict around … Read More
Nigeria: Oil Transparency Remains “Elusive”
Although Nigeria passed legislation last year establishing an independent body the to make sure that oil majors pay the necessary royalties and taxes, anti-corruption activists are saying the law is not strong enough to fully clean the industry. Under the law – the Nigeria Extractive Industries Transparency Initiative (NEITI) – oil companies are required to … Read More