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Showing posts with the label natural resources

PNG Not prepared for LNG Impact

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OP.ED

PAPUA New Guinea is ill-prepared for the impact of LNG. Up to now, the project has been thought of as something that might happen and that, if it did, it would impact the financial and economic sectors of the country and little else. Such thoughts are drawn from the shallow pool of ignorance and PNG pays a hefty price for ignorance.
Ill-prepared, both as a government and as a people, the full benefits of any resource project have overflown PNG entirely, leaving it to flounder in their wake and fighting over pet fodder such as royalties and taxes while the prized steak in substantial control and ownership and, in major spin-off contracts, have been left in the control of the multi-national conglomerates. Bougainville, Ok Tedi, Misima, Kainantu and Kutubu oil have come and go.
There is absolutely nothing to show for them. The reason is simply ignorance. Ignorance and a rather peculiar reluctance to learn from past lessons. That especial, if tragic, trait of PNG’s persists today and i…

PNG Not prepared for LNG Impact

Image
OP.ED

PAPUA New Guinea is ill-prepared for the impact of LNG. Up to now, the project has been thought of as something that might happen and that, if it did, it would impact the financial and economic sectors of the country and little else. Such thoughts are drawn from the shallow pool of ignorance and PNG pays a hefty price for ignorance.
Ill-prepared, both as a government and as a people, the full benefits of any resource project have overflown PNG entirely, leaving it to flounder in their wake and fighting over pet fodder such as royalties and taxes while the prized steak in substantial control and ownership and, in major spin-off contracts, have been left in the control of the multi-national conglomerates. Bougainville, Ok Tedi, Misima, Kainantu and Kutubu oil have come and go.
There is absolutely nothing to show for them. The reason is simply ignorance. Ignorance and a rather peculiar reluctance to learn from past lessons. That especial, if tragic, trait of PNG’s persists today and i…

WHERE IS ALL THE MONEY GONE TO?

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OP/ED
The 11th Mining and Petroleum Conference in Sydney, Australia kicked off yesterday. And in a packed room, PNG’s Oil Search Limited, a major partner in the LNG project, shocked the experts and government officials including ministers from both countries that it has spent a whopping K11.931 billion in oil benefits between 1992 and 2009.
And that is nothing on the ground to show for this money, the company says. That is the verdict from oil industry supremo Dr Peter Botten of Oil Search Limited who said there was “no significant appropriate improvements in living standards” had occurred to Papua New Guineans from billions of kina received by landowners, provincial governments and the national government as resource benefits over the last 17 years.
Today we are told some 200 people have died from cholera in Western Province. Apart from Cholera, TB, Malaria, HIV/AIDS, Cancer and many other diseases are killing our people. The National Department of Health has admitted that our health in…

WHERE IS ALL THE MONEY GONE TO?

Image
OP/ED
The 11th Mining and Petroleum Conference in Sydney, Australia kicked off yesterday. And in a packed room, PNG’s Oil Search Limited, a major partner in the LNG project, shocked the experts and government officials including ministers from both countries that it has spent a whopping K11.931 billion in oil benefits between 1992 and 2009.
And that is nothing on the ground to show for this money, the company says. That is the verdict from oil industry supremo Dr Peter Botten of Oil Search Limited who said there was “no significant appropriate improvements in living standards” had occurred to Papua New Guineans from billions of kina received by landowners, provincial governments and the national government as resource benefits over the last 17 years.
Today we are told some 200 people have died from cholera in Western Province. Apart from Cholera, TB, Malaria, HIV/AIDS, Cancer and many other diseases are killing our people. The National Department of Health has admitted that our health in…

Rush for resources

ALJazeera

Papua New Guinea is cashing in on its wealth of natural resources. Last December, Sir Michael Somare, the country's prime minister, signed a $16bn deal to pipe liquid natural gas to Asia, promising to double the nation's GDP. But despite these economic windfalls, wealth and life expectancy are on the decline. Frustrated locals are up in arms, saying they no longer trust the government or developers to deliver on promises. On this edition of 101 East we ask, how much of Papua New Guinea's wealth of natural resources is reaching its people?

Rush for resources

ALJazeera

Papua New Guinea is cashing in on its wealth of natural resources. Last December, Sir Michael Somare, the country's prime minister, signed a $16bn deal to pipe liquid natural gas to Asia, promising to double the nation's GDP. But despite these economic windfalls, wealth and life expectancy are on the decline. Frustrated locals are up in arms, saying they no longer trust the government or developers to deliver on promises. On this edition of 101 East we ask, how much of Papua New Guinea's wealth of natural resources is reaching its people?