Madagascar hopes to rise along with price of oil President promises to use revenue wiselyMARKETPLACE by Bloomberg International Herald Tribune | July 19, 2006| | . Provided by ProQuest LLC. (Hide copyright information) Copyright

Mike Cohen
International Herald Tribune
07-19-2006
Two-wheeled ox carts and old Renaults choke the cobbled streets of Antananarivo, Madagascar's capital, reminders of how slowly the country has advanced since independence in 1960. Now the government is auctioning oil drilling rights to improve the lives of its 18 million citizens.The tripling of oil prices since 2002 and new technology that can reach oil deposits far under the sea have revived the Indian Ocean island's hopes for an energy boom after previous finds proved unprofitable.''The potential for oil is very, very big,'' Hugues ...

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