Discovery of Oil
Malabo has been significantly affected by Teodoro Obiang Nguema Mbasogo's growing co-operation with the oil industry. The country's production has reached 360,000 barrels per day (57,000 m3/d) as of 2004, an increase which led to a doubling of the city's population, but for the vast majority, very little of that wealth has been invested in development.
Read more about this topic: Malabo
Famous quotes containing the words discovery of, discovery and/or oil:
“Your discovery of the contradiction caused me the greatest surprise and, I would almost say, consternation, since it has shaken the basis on which I intended to build my arithmetic.... It is all the more serious since, with the loss of my rule V, not only the foundations of my arithmetic, but also the sole possible foundations of arithmetic seem to vanish.”
—Gottlob Frege (1848–1925)
“I have known no experience more distressing than the discovery that Negroes didn’t love me. Unutterable loneliness claimed me. I felt without roots, like a man without a country ...”
—Sarah Patton Boyle, U.S. civil rights activist and author. The Desegregated Heart, part 1, ch. 10 (1962)
“Opinions are to the vast apparatus of social existence what oil is to machines: one does not go up to a turbine and pour machine oil over it; one applies a little to hidden spindles and joints that one has to know.”
—Walter Benjamin (1892–1940)