Sunday, July 16, 2017

Share the wealth I always say. Oh, I am sure the Pakistanis are stating obviously wonderful ideas to their people and are very sincere. All they want is for their people to be educated and have a better quality of life. 

This is where the World Bank should be involved in the exploitation of natural resources globally. What happens when the USA pulls all funding to a country while Exxonmobile is not planning any exploration yet alone drilling for years and perhaps a decade from all anticipated departures from international funding?

There are natural resources of the USA with leases that are paid every year and have never yet been exploited. It is complete foolishness for USA states along the east coast to expect leases for deep sea drilling. It may never happen for decades or at all. The opening up of leases produces an income for the USA and perhaps a sharing with the states, but, the companies aren't producing royalties, they are simply paying leases.

There are similar discussions as in Pakistan all over the 2nd, 3rd and 4th worlds. If Exxonmobile is promising royalties without leases payments annually, then Pakistan will be very unhappy in years to come when USA payments end. These countries are basically unable to take care of themselves. They don't have the sophistication of the attornys at Exxonmobile.

Additionally, there are the cancers, disease and poverty of the people such as those in Nigeria (decades of suffering) and Ecuador. 

20 March 2015
By Cole Mellino

The International Court of Justice (click here) at The Hague ruled last week that a prior ruling by an Ecuadorean court that fined Chevron $9.5 billion in 2011 should be upheld, according to teleSUR, a Latin American news agency. Texaco, which is currently a part of Chevron, is responsible for what is considered one of the world's largest environmental disasters while it drilled for oil in the Ecuadorian rainforest from 1964 to 1990....

The World Bank and United Nations should be monitoring the interference by the USA White House in regard to such international payments. If there is tardiness and/or elimination of any payments, the Hague needs to rule as to the ruthlessness of the Trump Administration.