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Periodical article Periodical article Leiden University catalogue Leiden University catalogue WorldCat catalogue WorldCat
Title:Saving Ghana from its oil: a critical assessment of preparations so far made
Author:Van Gyampo, Ransford EdwardISNI
Periodical:Africa Today (ISSN 1527-1978)
Geographic term:Ghana
Subjects:petroleum extraction
hydrocarbon policy
External link:http://muse.jhu.edu/journals/africa_today/v057/57.4.van-gyampo.pdf
Abstract:Oil discoveries in many countries have led to the erosion of democratic processes and institutional structures. The 'resource curse' syndrome manifests itself not only through the technical challenges of monetary and fiscal policy decisions, but also through the disregard of governments for collective decisionmaking in a participatory democracy. This paper assesses the preparations so far made in Ghana toward its oil production. The discovery of oil in commercial quantities in 2007 west of Cape Three Points marked a turning point in Ghana's search for offshore hydrocarbons. Issues about Ghana's oil discovery were key in the electioneering campaign messages of the 2008 elections. The paper highlights the threats of oil to Ghana's democracy and argues that even though Ghana was expected to start its first commercial oil production by late 2010, the country was not ready to do so. To save the country from its oil, the paper recommends the need for inclusivity and transparency in the preparatory processes toward oil production to prevent cover-ups for corruption and unaccountable governance and conflict. A postscript mentions the hasty passing in Parliament of the Petroleum Revenue Management Bill on 9 December 2010. Bibliogr., notes, sum. [Journal abstract, edited]