Part II of this extract series examines the considerations business owners methods discussed in Part I.) This is where production economics come into play. The overall economics of oil extraction is that there is money in it - both for extraction companies and their investors. The creation and unification of Nigeria was a colonial affair, motivated by the economics of extraction. For centuries, Nigeria has provided the.
of The Extraction Economics
It reminds me of the tale of Saint George and the dragon. Eventually the heroic Saint George arrives. The maiden is saved, and the water source is restored—hooray!
So very sorry about all those kids who were eaten, but at least the princess is okay. And can we recognize that maybe princesses are not the only ones worth making the effort to save? But until we are able to shift to a sustainable level of production, we need make sure Extraction Debt is paid, so the communities that have sacrificed so much can be repaid and renewed.
People in sacrifice zones are dying, losing years of their lives. But we can stem the tide. But what we do know is that people who live in extraction areas shoulder the risks of explosions, spills, and catastrophe, and we do have some ability to quantify it.
Budget , Fracking , Issues , Updates. Budget , corruption , diversification , MTR , oil and gas , poverty. Enter your email address to follow "Holler from the Hollers! Some people have always wanted to go into politics. Or gardening… or making jam. Sometimes regular people have to step in and demand we work on issues that will help people rather than engage in party politics.
We need more public servants, and fewer politicians. So here I am. I promise to do what I can to straighten things out so we can all get going in the right direction again. Create a website or blog at WordPress. Holler from the Hollers! Lissa Lucas — WV House — But we deserve good neighbors, not corporate invaders.
This is nothing new, so far. And politicians have a financial incentive to allow it. First they offer sheep. And when they run out of sheep, they begin offering their children.
Public policy must take this debt seriously. Lissa Author archive Author website. House Bill — Holler from the Hollers! Voice of the Hollers! Subscribe now to Lissa's email newsletter: You can unsubscribe at any time. Real grassroots Please help us reach our goal. Outside the plane window at the Niger Delta, the oil region of Nigeria, I can see a solid bed of rainforest with wide ribbons of water the colour of coffee dregs coiling through it.
I try to orientate, but I cannot see any signs of development and the only visible landmarks are the glowing gas flares that burn 24 hours a day. In this vast region, the size of Portugal, the sense of injustice is palpable, even at 10,ft. Village communities across the Delta live in perpetual tension with multinational oil companies. Companies burn off billions of dollars worth of gas as a waste product, whilst people are living without electricity, clean water or adequate roads.
The history of oil in Nigeria is inseparable from the history of the nation itself. Nigeria started life as an idea conceived by a kind of proto-multinational corporation, the Royal Niger Company. After this frenzy of land-grabbing, Britain purchased the Company in , absorbing the territory into the British Empire.
Any resistance was swiftly put down with brutal military force. The creation and unification of Nigeria was a colonial affair, motivated by the economics of extraction.
For centuries, Nigeria has provided the raw materials for Western capitalism and industrialisation. The same story is on an endless loop. The trans-Atlantic trade in West African slaves was succeeded by the trade in palm oil, which lubricated factories in Bradford, Manchester and Liverpool.
The same ports that once packed slaves and palm oil are loading tankers of crude oil to the US and UK. Since commercial quantities of crude oil were discovered in in the village of Oloibiri, Western oil companies, in particular Royal Dutch Shell, have poured investment into Nigeria. Since the early s, local communities have protested against the impacts of oil production on their land, livelihoods and rights.
They have also agitated for a more proportionate share of the oil revenues flowing out of their land. After decades of regular oil spills, gas flaring, underdevelopment and neglect, communities mobilised. Success came at a heavy price for the Ogoni, as Shell collaborated with the military government in a series of brutal crackdowns in which hundreds of people were killed, entire communities were razed and many were raped, tortured and detained.
Like the punitive expeditions of the colonial era, resistance to the project of continuous extraction was met with extreme force.
On November 10th , Ken Saro-Wiwa and eight of his Ogoni colleagues were executed by the military government for their campaign for environmental justice. A class action lawsuit was filed against the company for complicity in human rights atrocities and crimes against humanity in Ogoni.
Economics of Extraction
It's why WV is so poor, even with all our wealth of resources. Extraction Debt, modeled on Climate Debt, is a term that expresses the economic. Extraction Costs and the Economics of Nonrenewable Resources. John R. Livernois. University of Alberta. Russell S. Uhler. University of British Columbia. The theory of natural resource extraction can illuminate these and other Natural resource economics traces its origins to classic articles by L. C. Gray.