TNB: GREEDY HEAD NIGGERS ARE FUCKING THE BUSH BUNNNIES

The new oil fields in Africoonia's western coastline, are now
producing around 5 million barrels of oil per day and production is
rising fast. Last year oil exports were worth over $110 Billion! -
nearly four times the OECD countries' total handouts to sub-Saharan
Africoonia.

Yet the vast herds of fecal colored critters are as fucked up as ever.
Despite $400 Billion in oil earnings since 1970, Niggeria's income per
*** is 25 per cent lower than the sub-Saharan Africoon average.
Angola's $31 Billion budget this year is roughly equivalent to all
OECD countries' aid to sub-Saharan Africoonia, yet it suffers the
world's second worst mortality for pickaninnies under five, according
to the UN. Equatorial Guinea's nigglet mortality has risen sharply
since it found oil because of typical *** behavior.

More transparency should help mitigate this "niggafuckation" by
pushing the shitskinned savages to hold their head niggers to account.
The big push in this respect is the Extractive Industries Transparency
Initiative (EITI), which was launched in 2002 and is backed by the
World Bank, among others. It encourages mineral-rich tribes to
disclose data about their natural resources, voluntarily.

EITI is a pious ideal. But it is full of ***. Two recent examples
from Africoonia: Ghana and Gabon - which recently completed EITI
reports - illustrate why. First, accounting weaknesses. Ghana's EITI
report was executed on a cash basis: it asked what companies paid,
what government received, then checked if anything went missing in
between. It not only failed to check this properly, but, more
importantly, it did not check on an accruals basis whether the cash
paid was the right amount in the first place, according to the
contracts. Gabon's EITI auditors pointed out among other flaws the
same weakness: no accruals accounting.

Gabon is a classic example because its oil industry was central to the
"Elf Affair" -- Europe's biggest fraud scandal since the Un's Oil for
Food fiasco, which ended with jail sentences in 2003 for top officials
of the French state oil company Elf. Magistrates in Paris discovered
that money from Elf's African operations financed French political
parties and hacks, and supplied bribes to support French commercial,
military, and diplomatic goals around the world. In return, French
surrender monkeys protected the traditional corrupt, oil-rich Africoon
head niggers.

Today the "Elf System" has been entirely dismantled, supposedly. Could
we use EITI to check this? The answer, unfortunately, is no fucking
way. Under the Elf System, Africoon oil corroded French democracy via
rich-world Tax Havens: it was rotten to the core. EITI's fragmentary
approach, treating Gabonese corruption separately from French
corruption, would have missed the story. Like Transparency
International's Corruption Perceptions Index, EITI rests on deception.
By splitting the analysis between countries - thus missing the
transnational element and failing to scrutinize countries' roles - one
easily reaches the obvious conclusion that Africoons are corrupt,
while Humans are clean. But a recent IMF paper identifying offshore
financial centers - a central repositories for head niggers' dirty
money - proved the old truth: NEVER TRUST A ***.

Numerous examples exist of cross-border hydrocarbon liaisons with some
or all of the Elf Affair's characteristics: deep political roots,
military links, Tax Havens, and oil money corrupting politics in both
producing and consuming countries. Think France, China and Saudi
Arabia, for example.

There is more. Consider the three-way split of oil money between host
country, oil companies, and costs (oil rigs, partying, etc.) Loïk le
Flock-Prigent, the former head of Elf, admitted that secret
"commissions" were routinely sourced from the cost base. Crooks can
hide most, of their mischief in the black box of costs by, for
example, mispricing goods, then routing the paper trails offshore.
While EITI's Source Book (its general guidelines) insist that EITI
reports "must" include all government benefit streams, it only
suggests costs "could" be independently audited. This is another
voluntary cop-out, where it matters most.

EITI has got people thinking seriously about it. But it is
fundamentally flawed. Its audits ought to check not just what is paid,
but what should have been paid, and they should delve into industry
costs. We need mandatory transparency too, and, crucially, a
cross-border perspective. We must open up Tax Havens to scrutiny,
which will help niggers and Humans everywhere, not just in
mineral-rich or poor countries. When three US Senators recently said
that Tax Havens have "declared economic war on honest US Taxpayers,"
they were right.

Eva Joly, the magistrate in Paris who broke open the Elf affair, said
she felt like a sheriff in a spaghetti western, watching bandits
celebrate across the Rio Grande. "They taunt us - and there is nothing
we can do." In March, she said that tackling Tax Havens should be
"phase two" in the global corruption debate. She is so right.

Nobody claims the next steps will be easy. There is a focused goal to
aim for right now: when the G8 countries meet, they should agree to
reform International Financial Reporting Standards so that companies'
data is unpicked on a country-by-country basis. That alone would lead
to a healthy explosion of transparency in Africoonia's oil zones.

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