Oil Money Remains a Poisonous Influence in International Politics

Oil Money Remains a Poisonous Influence in International Politics

HALIFAX, Nova Scotia — Lust for oil can overpower a country’s democratic ideals and common sense, and the United States is not immune. Consider Secretary of State Condoleeza Rice’s rhetorical embrace of Equatorial Guinea’s president, Teodoro Obiang Nguema, in April 2006. “You are a good friend and we welcome you,” she said. Two years earlier, the U.S. Senate’s Permanent Subcommittee on Investigations disclosed how Rice’s “good friend” and his family held multimillion dollar accounts, gleaned from government revenue, in Riggs Bank, which was eventually convicted of violating America’s Bank Secrecy Act. When not ripping off the state treasury, Obiang has […]

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