In an era of rising petroleum prices African oil is drawing new interest from major companies around the globe according to John Ghazvinian author of Untapped: The Scramble for Africa’s Oil who spoke at a recent event sponsored by the Wharton African Students Association. Companies Ghazvinian says see the continent as the most promising place in the world for new production. Yet due to an economic paradox known as the ”Resource Curse ” most Africans are realizing little benefit from this influx of oil drillers and investment: Between 1970 and 1993 the author notes ”countries without oil saw their economies grow four times faster than those of countries with oil.”
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