Word: africas
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Dates: during 2000-2009
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...barrel - nearly double the government offer - because of the risks involved. Operating in Iraq means investing billions in an unstable country where foreign oil workers are routinely kidnapped and insurgents have blown hundreds of holes in pipelines. Rochdi Younsi, until last month the director of Middle East and Africa for the Eurasia Group in Washington, told TIME that the auction was "a fiasco and embarrassment," saying that the government "thought oil companies would do absolutely anything to get into Iraq...
...dwindle in places like the North Sea and Gabon, companies are desperate to book new reserves - and Iraq, which unlike Kuwait or Saudi Arabia is incapable of producing its oil without foreign know-how and investment, is up for grabs. Unlike huge new finds off Mexico, Brazil and West Africa, many Iraqi fields were mapped years ago - some by the same companies now negotiating new contracts - and so will not require lengthy exploration before pumping can begin...
...even some of the more modest predictions about Jacob Zuma's rise to power had been correct, South Africa would be an empty, corrupt dictatorship by now. Back in 2006, South African memoirist Rian Malan ended his dismal assessment of the nation's prospects ("Not civil war, but sad decay") in British magazine the Spectator by asking: "Anyone want a house here?" A year ago, Archbishop Emeritus Desmond Tutu said he was "deeply saddened" when Zuma staged a party coup against his predecessor Thabo Mbeki, "deeply disturbed" that both had used institutions of state in their struggle and warned that...
...dropped) was fit for office. So many African liberation movements have gone from triumph to tyranny, hope to corruption. Even with the saintly figure of former leader Nelson Mandela in the wings, would Zuma and his party, the African National Congress (ANC), do the same? (See pictures of South Africa after 15 years of ANC rule...
...since his election in April, President Zuma has surprised. Seven months is not long enough to fix South Africa's problems - and Zuma hasn't. Violent crime, a yawning inequality which juxtaposes black millionaires with millions scraping by on less than $2 a day and the world's largest HIV/AIDS population continue to drag on the country. But whereas Mbeki stoked a national mood of frustration by denying such crises existed, Zuma concedes they are real and even accepts blame. "These challenges are based in reality," the 67-year-old told TIME in a rare interview. "And it's only...