Post #275

🇨🇲 Passive Income for Everyone — You Just Need to… To earn passive income that will instantly make you a millionaire, you only need to meet 2 simple conditions: 1) have a neighbouring landlocked country with oil, and 2) lay a long pipeline across your territory so that it can sell that oil through you. 🌐 This is exactly what Cameroon did — and its national treasury estimates since the beginning of the year it has earned20.3 billion CFA francs (about $34 million). Since 2003, the 1,070-km Chad–Cameroon pipeline has transported oil from the Doba Basin in Chad to a marine terminal near Kribi, under a scheme designed jointly with the World Bank and a consortium originally led by ExxonMobil and Petronas. 🔸 But even this jackpot — obtained without much effort — did not satisfy Cameroon’s authorities. Their target for this year is to squeeze about four times more out of the pipeline (around $140 million). ❓ On what basis Cameroon calculated this figure, and whether the target came to Paul Biya in a dream, remains unclear. In recent years, Cameroon has usually earned exactly what it earns now — between 36 and 40 billion CFA francs annually. 🔸 For income earned from a project in which your role is simply to let oil flow from the fields to the ports, the current numbers are more than acceptable. And if oil from Niger also begins flowing through this same pipeline, Cameroon may well see even more wealth. A pity that only a tiny fraction of the population will ever feel it. Devils Below