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Article: Oil Industry Pushes Bill To Open up African Trade.
- Article from:
- The Oil Daily
- Article date:
- June 18, 1998
- Author:
CopyrightCOPYRIGHT 1998 Energy Intelligence Group. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Secretary of State Madeleine K. Albright and a U.S. oil company are pressing Senate lawmakers to pass an oil industry-backed bill to open up trade and investment in sub-Saharan Africa.
"To those who think the United States does not have important interests in Africa's success, I say -- think again. Already, 100,000 American jobs depend on our trade with Africa. Already Africa supplies more than 13% of our oil -- nearly as much as the Middle East," Albright told a Senate Finance Committee hearing Wednesday.
The African Growth and Opportunity Act, which passed the House with bipartisan support on March 11, would provide more than $500 million in new funding from ...