The African tyrant living in luxury while his people starve | 60 Minutes Australia
Summary
TLDRThe script exposes the corrupt regime of Equatorial Guinea's President Teodoro Obiang, who exploits the country's vast oil reserves for personal gain while his people suffer. Despite the nation's rapid economic growth, driven by oil, the wealth isn't trickling down to the citizens. International oil companies, including ExxonMobil, are criticized for their involvement with the regime, raising questions about ethics in the pursuit of natural resources. The video also highlights the stark contrast between the luxurious lifestyles of the ruling family and the abject poverty of the masses.
Takeaways
- 😡 The President of Equatorial Guinea, Teodoro Obiang, is accused of being a tyrant, possibly the worst in the world, who is robbing his country blind.
- 📉 Despite vast oil deposits discovered offshore, making the country potentially the richest in the world, most of the oil money is being funneled into the president's pocket, not benefiting the people.
- 🌍 The country has one of the most appalling human rights records, with regular torture and extrajudicial killings, yet it was largely ignored until oil was discovered.
- 🏭 American oil giants, particularly ExxonMobil, are heavily involved in the country's oil industry, initially giving Equatorial Guinea a very low share of the oil revenues.
- 🏙️ The capital city of Equatorial Guinea is a mix of Spanish colonial architecture and slums, with little running water and no sewage, while the president lives lavishly.
- 🚗 The president's son, Teodoro Jr., is known for his extravagant lifestyle, including shopping sprees in Paris and a penchant for luxury cars and suits.
- 📉 While the country's economy is growing rapidly, the expenditure on health and education has declined, and the wealth is not reaching the general population.
- 🏦 President Obiang has significant financial holdings in Washington, D.C., including over 60 accounts at Riggs Bank, where he also owns a mansion.
- 🏡 The president and his family enjoy a luxurious lifestyle with mansions in Beverly Hills and Washington, D.C., contrasting sharply with the poverty in Equatorial Guinea.
- 🌟 The script concludes with a call for moral responsibility from Western countries and oil companies in their dealings with the corrupt and oppressive regime.
Q & A
Equatorial Guinea的领导人是如何利用国家的石油财富的?
-Equatorial Guinea的总统Teodoro Obiang被指控将大部分石油收入直接转入个人口袋,过着奢侈的生活,而他的人民却处于贫困之中。[^1^]
Equatorial Guinea的石油收入有多少用于改善国民的生活条件?
-尽管Equatorial Guinea的石油财富巨大,但大部分并没有用于改善国民的生活条件,实际上,健康和教育的实际支出在过去五年中显著下降,而这段时间正是石油财富真正开始增长的时候。[^1^]
国际石油公司在Equatorial Guinea的石油开发中扮演了什么角色?
-国际石油巨头,尤其是ExxonMobil,在美国和其他国际石油公司的主导下,在Equatorial Guinea的石油开发中发挥了重要作用。最初,他们给Equatorial Guinea的石油所有者只提供了12%的石油收入,而通常的标准是60%左右。[^1^]
Equatorial Guinea的石油财富如何影响了该国的经济增长?
-Equatorial Guinea的经济增长迅速,去年经济增长了60%,是世界上增长最快的经济体,但这并没有转化为国民的财富,因为大部分石油收入都被转移到了其他地方。[^1^]
Equatorial Guinea的石油开发对环境有何影响?
-Equatorial Guinea的石油开发导致了环境问题,如石油泄漏和天然气燃烧,这些都对环境造成了破坏。[^1^]
Equatorial Guinea的人权状况如何?
-Equatorial Guinea有着可能是全世界最糟糕的人权记录,包括定期的酷刑和法外处决。[^1^]
Equatorial Guinea的总统Teodoro Obiang的个人生活是怎样的?
-Teodoro Obiang和他的家人经常出国,他的儿子Teodoro Jr喜欢巴黎和它的豪华酒店,他曾经在一天之内购买了30套西装,并在香榭丽舍大街上开着兰博基尼去买CD。[^1^]
Equatorial Guinea的石油收入有多少流入了总统的个人账户?
-有报道称,石油公司将版权使用费存入Riggs Bank的账户,其中Obiang控制着超过60个账户,包括一些账户的余额高达数亿美元。[^1^]
Equatorial Guinea的石油开发对全球石油市场有何影响?
-Equatorial Guinea的石油对全球市场具有吸引力,因为它是非阿拉伯、非OPEC、非穆斯林的石油,且油井远离当地居民,减少了干扰。[^1^]
Equatorial Guinea的石油收入不平等分配导致了哪些社会问题?
-Equatorial Guinea的石油收入不平等分配导致了社会问题,包括贫困、缺乏基础设施如自来水和污水处理设施,以及政府对反对派的打压。[^1^]
Outlines
🏛️ Oil Wealth and Tyranny in Equatorial Guinea
The paragraph discusses the paradox of Equatorial Guinea, a small African nation with vast oil reserves that should make it one of the world's richest countries within a decade. However, the wealth is concentrated in the hands of the corrupt and despotic President Teodoro Obiang, who lives lavishly while the majority of the population remains in poverty. The country's human rights record is abysmal, with regular reports of torture and extrajudicial killings. The oil, which is attractive due to its non-Arab, non-OPEC, and non-Muslim origins, is largely controlled by American companies like ExxonMobil, which initially gave the country a poor deal, taking advantage of the government's inexperience. The narrative also touches on the contrast between the opulence of the president's lifestyle and the squalor of the nation's living conditions, with the government's neglect of basic services like electricity and sewage.
📉 Declining Services Amidst Oil Boom
This paragraph highlights the ironic situation where, despite the influx of oil wealth, the expenditure on health and education in Equatorial Guinea has significantly declined over the past five years. The country's rapid economic growth has not translated into improved living standards for its citizens, with the wealth being diverted elsewhere. The narrative includes anecdotes about the lack of basic amenities like swimming pools and the challenges faced by athletes like Eric Moussambani, who had to train abroad due to the lack of facilities. It also describes the encounter with Exxon Mobil's employees and the subsequent expulsion of the reporter from the country by the information minister. The paragraph ends with a critique of the West's complicity in the situation, questioning the morality of doing business with a corrupt and cruel dictator like President Obiang.
🏦 The Global Financial Network of a Tyrant
The final paragraph delves into the global financial activities of President Obiang, who controls over 60 accounts at Riggs Bank in Washington, D.C., where he receives substantial royalty payments from oil companies. The paragraph describes the luxurious lifestyles of Obiang and his family, with mansions in Washington and Beverly Hills, contrasting sharply with the poverty in Equatorial Guinea. The reporter's visit to one of Obiang's mansions and the subsequent conversation with a government representative, who is also the president's cousin, adds a personal touch to the narrative. The paragraph concludes with a call to action, urging oil companies to reconsider their association with the dictator and to consider the moral implications of their business practices.
Mindmap
Keywords
💡tyrant
💡Equatorial Guinea
💡oil deposits
💡revenues
💡human rights
💡ExxonMobil
💡corruption
💡despot
💡health and education
💡Washington
Highlights
Equatorial Guinea, an African country with vast oil deposits, could become one of the richest in the world within a decade.
The country's president is accused of being a tyrant, living lavishly while most of the population remains in poverty.
The oil wealth is not reaching the citizens, with the president allegedly diverting funds into his personal accounts.
Equatorial Guinea has a poor human rights record, including regular torture and extrajudicial killings.
Oil companies, particularly ExxonMobil, are accused of profiting from the situation and contributing to the country's corruption.
The country's main island is described as being in the 'armpit of Africa', with little development despite oil wealth.
The government is accused of not investing in basic services like health and education, even as the country's economy grows rapidly.
The president's son, Teodoro Jr., is known for his extravagant lifestyle, including shopping sprees in Paris.
The reporter was asked to leave the country after the government stopped filming, indicating a lack of press freedom.
Opponents of the president have fled to Spain, fearing for their safety due to the government's history of locking up and executing dissenters.
The president's mansion in Washington D.C. and his son's Beverly Hills property highlight the family's wealth despite the country's poverty.
The president has over 60 accounts at Riggs Bank in Washington, where oil companies deposit royalty payments.
The reporter's attempt to speak with a government representative about the president's finances was met with evasive answers.
Despite the country's rapid economic growth, the average citizen sees little benefit, with many living in slums.
The West is criticized for being complicit in the corruption and human rights abuses by continuing to do business with the regime.
The reporter concludes by calling for ethical business practices and questioning the morality of associating with the Equatorial Guinean government.
Transcripts
tonight the story of a tyrant possibly
the worst in the world he's vicious he's
venal and he's robbing his country blind
his country is an african hellhole
called equatorial guinea and no one
would have ever heard or cared about it
if they hadn't discovered vast oil
deposits just offshore
so much oil in fact that at the rate
this tiny country is growing in 10 years
it could be the richest in the world
the trouble is most of the oil money is
being pumped directly into the
president's pocket
he's living like a king while his people
starve
[Applause]
[Music]
[Applause]
[Music]
[Applause]
the two bob tinpot tyrant who runs this
tiny african backwater gets around with
an entourage worthy of a
superpower and he is just about the most
horrible despot in the world today
president teodoro obiang
his people are amongst the poorest on
earth and he's amongst the richest
this is one bad place it's had one of
the most appalling human rights records
probably in the world regular torture
regular extrajudicial killings
until people found oil nobody was really
talking about equatorial guinea
the oil here is attractive because it's
non-arab non-opec non-muslim and the
reeks are well out of reach of the pesky
natives
the main island of this tiny nation is
in what detractors call the armpit of
africa
a small australian company rock oil is
drilling here but it's mostly american
giants particularly exxonmobil
to begin with they gave equatorial
guinea the oil's owners just 12
of the oil revenues
the norm is more like 60
according to alex vines an african
specialist with the royal institute of
international affairs initially the oil
companies gave equatorial guinea a
really bad deal they took advantage of
him certainly to start with
the government of ecuador and he had not
a clue what it was dealing with at the
time
[Music]
the main square in the capital is a
quaint throwback to spanish colonial
times
elsewhere the city is mostly a slum with
little running water and essentially no
sewage
the government stopped us filming here
but we manage these shots from our hotel
window
whilst the oil fires flicker on the
horizon at night
students with no electricity at home
study under the street lights that
eliminate the drive to the presidential
palace
it's a very bad evil government and
exxon i think to a shame is
in bed with them frank ruddy is doubly
qualified he was once the american
ambassador to equatorial guinea and once
a lawyer for exxon the shameful part is
that
you have a great company like exxon
mogul
which is tied in with this very corrupt
government the president treats the
treasury as his own uh patrimony and so
to do business with somebody like that
and to uh basically literally feed his
coffers um i think it's shameful
the president and his family are
frequently overseas
first son teodoro jr is partial to paris
and its finest hotels
incredibly he once allowed french
television to tag along on a shopping
spree
but a bentley can be hard work in paris
traffic
a fashion house closed its doors to give
junior exclusive access to the
merchandise
[Music]
but whilst their paris ambassador
did his job
teodoro bought 30 suits that day
[Music]
and then took the lamborghini down the
champs-elysees to get some cds
would it be churlish to suggest that
maybe it's successes like this that
caused so little to be spent in the
slums back home
the actual expenditure on health and
education has significantly declined in
the last five years and think of it the
last five years are when the oil wealth
has really been kicking in so although
the country's getting richer actually
the people are getting poorer the money
is going elsewhere it's not going to the
benefit of the people
the white man's hotel in the capital has
one of the nation's two swimming pools
neither contains water
pity really because here we found eric
musumbani eric the eel
remember him
the slowest swimmer at the sydney
olympics and now training for athens
well how do you do training if the pools
haven't got water
okay i was in south africa and in ghana
that way i have been training but now i
have to move to spain
to train
here i can't do it
at the same hotel we ran into some of
exxon mobil's men relaxing after a stint
on the rigs
perhaps being well oiled blurs the sight
of the squalor that's all around this
country's dirt poor where's all the
money going we don't control where the
money goes we're just out here to do a
job
[Music]
i was having dinner at a fish restaurant
an hour or so after
talking to those rig workers when out of
the blue the equatorial guinean
information minister shows up and says
get out of the country
your visa has been revoked and he added
for good measure if you go quietly then
nobody will be thrown into jail
so i think understandably we then
quietly made our way here to madrid in
spain
how many times have you been to jail
four days
have you been to jail
several time
the rat infested black beach jail back
in the capital is where president obiang
locks up his opponents
when he seized power from his uncle 25
years ago he kept him here for a couple
of days and then had him executed
no wonder many in opposition to obiang
today have fled here madrid spain the
former colonial power the way obiang is
taking
all the country including natural
resources he genuinely believes that
this country belongs to him in your
democracy sir in the late 90s the
president also believes he's sharing
those resources
at least that's what he told bob simon
from cbs 60 minutes in an interview last
year
the oil has been for us like
mana that the jews ate in the desert
we have to follow the rules to make sure
the mana reaches all the people in
equatorial guinea
the oil companies make sure the manner
reaches at least as far as him
in america it's red carpet treatment for
the president all the way and i remember
the president has a very fine collection
of scotch whiskey
obiang was even a guest at this function
when big oil paraded its biggest and
most powerful friend
[Music]
do you have any qualms about doing
business then
it's a matter of you have to mr stephen
hayes runs america's corporate council
on africa the council lobbies for
american oil i mean is there any depth
to which you will not sink i mean would
you
do business with this man obiang no
matter how corrupt he is
i i think that at some point again um
that's that's a that's a good question
is there any level at which any oil
company in the world wouldn't uh do
business with where there's that much
oil
um i don't know your position is that we
shouldn't be taking oil from equatorial
guinea no no no no no no no no it is
that position because there's no other
choice well let me tell you my position
so my position is there should be some
morality in this and there should be a
level below which you won't sink and
you've sunk to unbelievable depths in
dealing with such a corrupt and cruel
dictator as obiang well i don't i don't
agree with it what the crew a bit or the
corrupted no i don't i certainly i don't
i don't
i don't agree that american companies
are are not following the fair the fair
uh trade practices act
[Music]
it turns out president obiang does lots
and lots of business in washington oil
business and
private business
the ritzy part of the most important
city in the world washington is um well
very ritzy and when it comes to a good
address there are a few better places
than here dupont circle on this circle
there's one particularly interesting
building the dupont circle branch of
riggs bank
never heard of it well if you're a
member of the saudi royal family you
would have because many of them do their
private banking here as does president
obian
obiang controls in excess of 60 accounts
at this bank including the one where oil
companies deposit royalty payments
in some accounts the balances run to
hundreds of millions of dollars
in such circumstances i guess it's
understandable that the president would
equip himself with a mansion like this
just outside washington
but it's a silly president who forgets
to lock the front gate
hello
good morning
is prisoner obiang in please
hello how do you do a caretaker
eventually emerged from a garage so i
got a glimpse of the presidential fleet
and since the president was not in when
i dropped by the same caretaker very
kindly arranged for me to speak with a
government representative on the phone
who is this yes
your friend what's your friend's name
oh
you're the ambassador
oh i see you're the president's cousin
oh goodness gracious me well mr
ambassador tell me how much money has
the president got in his rigged bank
account at the moment the fbi is trying
to trace cash movements in and out of
that account is that mr ambassador
you're still there
and whether it's the oil companies
making the
cash payments
bye-bye
president obiang and his family must
enjoy the lifestyles of the rich and
famous otherwise why would he have
another mansion just down the
road and across the continent another
los angeles luxurious beverly hills area
is home for teodoro jr remember him he's
the son who likes the fast cars and
fancy suits swimming holes movie stars
and an african prince where is the owner
of the property
the africa prince
an african prince
[Laughter]
[Music]
back home in equatorial guinea's slums
last year the economy grew a massive 60
it is the fastest growing economy on
earth
near to none of the country's half
million people see a brass razoo from
this
why don't you do the right thing get out
of equatorial guinea turn your back on
this corrupt dictator let's assume that
every oil company us oil company gets
out how fast do you think it would be
before the french
and other international oil companies
are in there
a second
so
what really changes in equatorial guinea
see that city is such a tiny place it
should be another q8 if everyone did the
right thing yes and the fact is that
almost no one is doing exactly the right
thing
by associating with this murderous
criminal tyrant
we in the west a party to a disgrace and
contributing to a disaster in the making
[Applause]
[Music]
hello i'm tom steinfert thanks for
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