The idiots in Parliement have done it again

[Idow]

https://www.reuters.com/article/us-...-7-million-for-oil-blocks-lease-idUSKBN1X70V9
1.7 million for 30 years.
Their highest form of education is finishing the first grade.

 

[Mckenzie]

Should be 1.7 billion the f-cking retards.

 

[Enlightenednomad]

Did they even account for inflation?

 

[Rationale]

This is just sad.

 

[TheAnswer]

Somalia needs to make it very cheap to attract any investment. The name 'Somalia' is toxic in any international investment context. The most important things for investment---a history of political stability and a regulatory framework able to protect property rights---are absent in Somalia---investors laugh if asked to invest in Somalia. So how do you get companies to look past this and invest? You make it cheap. If you don't, you get nothing.

 

[Ras]

Before you chimp out what's the standard rate for the lease of undeveloped oil blocks?

Oil companies usually lease a whole bunch before they even test for oil.