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12 Jun 2002

U.S. State Department

"African Oil Policy Initiative Group" - U.S. House of Representatives Subcommittee on Africa - Statement of Chairman Ed Royce

...Let's be frank: oil development has proven to be more of a curse than a blessing for many developing nations. Few have put oil revenue to good use. Oil revenue has often been squandered...In the worst cases, oil has fueled civil war. This has been the case in Angola for years; over the last few years, oil has intensified the long and brutal war in Sudan...[The] Chad-Cameroon Pipeline Project...brings together the World Bank, energy companies, the governments of Chad and Cameroon, and civil society...in an effort to see that the oil revenue...works toward the goal of national development...I believe this approach holds great promise for current and future African oil producing nations...The practice of turning a blind eye as oil revenues are misused is not good for our country's strong interest in seeing the world's poorest continent develop; it's certainly not good for Africans; and ultimately it's bad business for energy companies.