Liberia Moves to Allow Foreign Oil and Gas Exploration
Jen Alic
Analytical Note: Still reeling from the after effects of 25 years of chaos and civil war, Liberia appears to have never produced any oil, and transnational companies are keen to begin exploration for oil and gas. The exploration deals will be a litmus test for President Ellen Johnson Sirleaf, who has pledged to use the country's natural resources for growth and development. Furthermore, the Legislature's ratification of the Chevron agreement is not a done deal, and could find itself halted by domestic politics, especially with 2011 elections just around the corner. Political tensions in Liberia are on the rise, and the opposition could opt to use the deal against Sirleaf, who is seeking a second term in the 2011 elections.
By Jen Alic for OilPrice.com who focus on Energy, Finance and Geopolitical news. OilPrice.com also has a geopolitics<a href="http://oilprice.com/Geo-Politics/" target="new">geopolitics</a> newsletter that is delivered twice a week for free.
Sept. 10, 2010