Article
Striking It Poor: Oil as a Curse
...now a draft of a report commissioned by the bank [World Bank] itself has essentially concluded that the bank's previous efforts to promote such projects in poor countries has done more harm than good...Ms. Thomas, a political economist at the University of Maryland, concluded that the bank should stop financing these so-called extractive industries in countries "whose governments lack the capacity to benefit from or manage such investment." [refers to Chad-Cameroon pipeline built by consortium of companies led by Exxon Mobil; refers to Chile, Ecuador, Ghana, Kazakhstan, Papua New Guinea, Tanzania]