EFFECTIVE MANAGEMENT OF THE IMERGING OIL AND GAS INDUSTRY IN GHANA(CAN Essay

Viable MANAGEMENT OF THE IMERGING OIL AND GAS INDUSTRY IN GHANA(CAN GHANA AVOID A RESOURSE CURSE) - Essay Example Regardless of whether Ghana’s current institutional structure will be fit for meeting the difficulties presented by oil abuse, and will have the option to utilize this chance to carry more noteworthy success and solidness to the nation, is a troublesome inquiry. In this paper, the reasons why other oil makers have neglected to make an achievement of this industry will be analyzed. Having made this investigation, suggestions will be given for how Ghana can channel its new mineral riches into solid monetary development and an improvement in expectations for everyday comforts the nation over. Substance 1. Presentation 1.1 West African Oil Production 1.2 Western Interests 1.3 Advantages of West African Oil 1.4 The ‘Resource Curse’ 1.5 Ghana 1.6 Oil Exploitation in Ghana 1.7 Drilling Begins 1.8 Chinese Interest 2. Writing Review 2.1 Ghana’s Success 2.2 Kosmos-Exxon Mobil Contract 2.3 Warnings of a Resource Curse 2.4 The Beginnings of Insurgency 2.5 Excessive Bor rowing 2.6 The Nigerian Experience 3. System 3.1 Choice of Subject 3.2 Data Collection and Analysis 4. Suggestions 4.1 Democracy 4.2 Transparency and Accountability 4.3 Investor Confidence 4.4 Role of Foreign Oil Companies and Governments 4.5 Revenue Management 4.6 A Diverse Economy 5. End Bibliography Figures Fig.1. Wellsprings of U.S. Oil Imports, 2007 Fig.2. Ghana’s seaward oil fields. Fig.3. ... line from landlocked Chad to seaside Cameroon, and new investigations for potential oil fields on the Atlantic coast were signs that the area was getting one of the West’s significant oil providers. There is a general accord that the demonstrated stores of West Africa are more noteworthy than those of either North American or Eastern Europe and Russia, and current significant providers are Nigeria, Angola, Congo (Brazzaville), Gabon and Cameroon. In fact, Nigeria is the world’s 6th biggest supplier of oil, and Angola will most likely demonstrate to have more oil than Kuwait. Because of expanded Western interest for oil, it is normal that Nigeria and Angola, the region’s two greatest makers, will twofold or even triple their yield over the span of the following decade. 1.2 Western Interests During the Cold War, the United States in especially was intensely occupied with Africa in a key and military limit, as a major aspect of its battle against worldwide socialism . Its organizations were resolved that the Soviet Union would have the option to discover broad partners in the locale. Financial help was offered through the World Bank and the International Monetary Fund (IMF), the two of which are vigorously affected by the United States government. US commitment likewise the type of military intercession, in locales where Communist uprisings compromised industrialist governments, whether or not or not the last were setting a case of good administration. In Angola, for instance, the United States propelled undercover and obvious CIA and exceptional powers activities, in intrigue with a few unique gatherings, and was worried over all that Communist powers in the nation ought not oversee the oil holds. This frequently included supporting unrepresentative governments in Luanda or the