Has Chad lost its collective mind?

279 Views 8 Replies 5 Participants Last post by Shiloh, Apr 17, 2006

gethane

Discussion Starter · Apr 15, 2006

http://www.msnbc.msn.com/id/10774119/

Have they missed the news broadcasts for say, oh, the last 5 years?

I don't know whether to be afraid (that we, the U.S. will bomb their butt) or amused (that they are cheeky enough to try extortion).

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lilyka

· #2 · Apr 15, 2006

wow!

i am with you. On the one hand I amimpresed with how they are using what they have and are bold enough to try it. on the other hand I don't completely understand what is going onor how much it can hurt them if is doesn't work.

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aniT

· #3 · Apr 15, 2006

Quote:

Originally Posted by gethane
http://www.msnbc.msn.com/id/10774119/

Have they missed the news broadcasts for say, oh, the last 5 years?

I don't know whether to be afraid (that we, the U.S. will bomb their butt) or amused (that they are cheeky enough to try extortion).

Sigh, I guess I had better fill up my tank then since we all know this will be the next excuse to jack up prices.

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gethane

Discussion Starter · #4 · Apr 16, 2006

that was my thought too. Even if nothing ever comes of it, just the news coverage of this oughta be good to jack up prices 15 cents or so over the next couple weeks.

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Tata

· #5 · Apr 16, 2006

Oh, no, no, no, no.

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Shiloh

· #6 · Apr 16, 2006

Quote:

The World Bank has frozen oil profits from a pipeline in Chad saved in a London escrow account in a dispute over how the revenues are spent. The savings include royalties from the pipeline's operator, Exxon Mobi.Chad, which produces 160,000 and 170,000 barrels of crude per day,

wow thats a lot of oil! No wonder they want the money...
but yeah I am thinking thank god dh is off work for the next two weeks as its all going into dick ch. pocket straight outa mine.the spice must flow

but why is it a US owned thing?

Quote:

It wants the US-led consortium that runs Chad's pipeline to hand over $100m (£57m) it says it is owed by Tuesday. Since then, it is the consortium which runs the pipeline led by US oil giant Exxon Mobil, which has been storing Chad's share of the oil profits.

http://news.bbc.co.uk/2/hi/africa/4913142.stm

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Shiloh

· #7 · Apr 16, 2006

Quote:

that they are cheeky enough to try extortion

why it is extortion if its Chad's own money?

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gethane

Discussion Starter · #8 · Apr 17, 2006

Quote:

extortion: to obtain property or money by the use of violence, threats or intimidation.

This sounds like a threat and/or intimidation.

Mostlyl, I was commenting on the apparent poor judgment involved in threatening the U.S. over oil.

In searching google, however, first for [chad oil] and then for [chad corruption] it seems like perhaps the world bank is trying to prevent the oil money going into the pocket of corrupt politicians rather than helping the people of chad overall. Chad tied with Bangladesh as the most corrupt place on the planet: http://news.bbc.co.uk/2/hi/business/4351076.stm

I am not an expert in the methods used on an international level to try and discourage corruption in poverty striken countries. However, I'd assume the World Bank is, or at least, has some experts giving opinions about it.

Here's an article about how it was "supposed" to work: http://www7.nationalgeographic.com/n...re3/index.html

Regardless of all the above, I still find it unwise to issue ultimatums in this circumstance.

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Shiloh

· #9 · Apr 17, 2006

Quote:

Regardless of all the above, I still find it unwise to issue ultimatums in this circumstance.

But if they aren't recieving money they have nothing to loose...
hopefully they can work it out soon but even the press on this is going to shoot up oil when the markets reopen here....

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