It will be imprudent for Edgar Lungu and his minions to sell such a huge stake in Indeni to foreign enterprises.
Oil supply is too important to our economy to leave in foreign private capital hands.
As Radical Revolutionary Party leader Vincent Chaile correctly observed, it is irresponsible for Edgar and his minions to give huge shares of Indeni to foreign private companies.
It is indeed very irresponsible for the government to give foreign private companies 49 per cent shares of Indeni Oil Company.
And as Chaile asks, what is really motivating Edgar and his minions to sell Indeni? Is it kickbacks? And what type of bribes are they given?
Five companies have been shortlisted for the next stage of selecting a strategic partner for Indeni Petroleum Refinery Company Limited.
The Industrial Development Corporation has announced that out of the seven that submitted applications for pre-qualifications, five had been shortlisted.
“The five companies that will be invited to submit Request For Proposals are: 1. Glencore Energy Limited of the United Kingdom 2. China Petroleum Technology and Development Corporation of China 3. Joint Stock Company Global Security of Russia 4. Sahara Energy Resources Limited of the United Kingdom; and 5. Beijing Huiersanji Green Chem – Tech Co. Ltd and Avic International Holding Corporation Consortium of China,” announced the Industrial Development Corporation last week.
The old axiom has never been more true, “As flows the oil, so flows prosperity.” Everything from our economy and currency exchange rate to our population’s overall sense of security and political stability seem to hinge precariously on what has come to be known as ‘black liquid gold!’
The very political success or failure of any ruling regime and the very survival of the citizens is dramatically affected, not simply by the mere possession of oil, but by effectively controlling the price of this all important fuel.
They say, ‘Oil is Power!’ And we don’t just mean power as in “energy,” we mean power, as in being a primary factor in the process of asserting and maintaining political dominance and control. Oil is needed to grow food, build infrastructure, advance technology, manufacture goods and transport them to markets. It lubricates the mechanisms of politics. Those who can consistently get their hands on the most oil, at the best prices will rule!
This is what makes oil so highly valuable that individuals, companies and sovereign states would actually be willing to go to war, if necessary, in order to defend or fight to win their “beloved”.
Oil is a staple of our very existence! It plays a major role in practically every aspect of our lives from technology and transportation to the very food and business necessary for our survival.
While there may be various alternative energy supplies available for some industrial tasks such as creating electricity, there is currently no reasonable substitute for oil when it comes to transportation.
As recent as the year 1900, coal accounted for 55 per cent of the entire world’s energy use while oil and natural gas contributed a mere three per cent of the world’s energy. A century later, coal provided only 25 per cent of the planet’s energy, natural gas has risen to 23 per cent and oil reigns supreme at just under 40 per cent.
Planes, trains and automobiles all rely on oil. Whether it’s driving the children to school, hauling necessary foodstuff and commodities to market or powering jet fighters in and out of battle zones, those who have oil prosper and those who don’t collapse!
So there is no surprise just how much international, geo-political concern and conflict arise regarding oil and the companies that supply it around the globe. Over the years, we’ve witnessed numerous rows on the international scene, some merely escalating into confrontations fuelled by “quid pro quo” agreements while others have led to boycotts, United Nations censures and in some cases invasions and all out wars!
Clearly, oil supply is not something to play games with and corruptly entrust to foreign private capital hands.