White Wealth and Black Poverty: American Investments in Southern Africa

By Barbara C. Rogers | Go to book overview

We are on the eve of a serious and unexpected crisis: our petroleum reserves are limited to three months at most. The stability of the regime and the security of its African provinces could be in question if effective and urgent measures are not taken in case the Arab countries should decide to place a sudden embargo on the supply of "crude" to this country. 42

According to the South African press, the oil situation in Mozambique deteriorated sharply in the month following the embargo, and shortages remained severe, despite consultations with "oil company officials of South Africa and Mozambique. 43 The grim long-term outlook for the colonies just before the coup was indicated by the indefinite postponement of the project to build a 1 million ton per year refinery at Nacala, because of the uncertain crude-oil supply situation; the group of companies involved included Mobil, Caltex, Shell, and BP. 44

The rapid liberation of the Portuguese colonies, and the precarious economic and military situation of the illegal regime in Southern Rhodesia after the loss of its Mozambique buffer, have given a new perspective to the future of southern Africa. The number of targets falls, and pressure is concentrated on the remaining areas of minority rule-in particular on Southern Rhodesia and Namibia. In the case of the former, the economic sanctions that were largely discounted at the time of their introduction by the United Nations in 1968 are now being taken seriously by even the most militant opponents of the Smith regime as a major support for the domestic struggle for liberation.

In all cases, boycotts and embargoes are part of the pressure being exerted on white minority rule. They also assist the liberation movements by restricting the access of minority regimes to arms, equipment, and financial support. The prospect of further economic pressure on South Africa and Southern Rhodesia is an element that, however it is assessed, clearly needs to be included in any calculation of the risks involved in a stake in that region.


NOTES
1.
Washington Star-News 28 August 1974; New York Times, 29 August 1974.

-264-

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White Wealth and Black Poverty: American Investments in Southern Africa
Table of contents

Table of contents

  • Title Page iii
  • Contents v
  • Preface vii
  • Acknowledgments xi
  • Introduction xiii
  • Chapter 1 Separate Development and White Supremacy 3
  • Notes 19
  • Chapter 2 Wealth and Poverty in South Africa 23
  • Notes 83
  • Chapter 3 the Special Role of Foreign Investment in South Africa's Economy 93
  • Chapter 4 the Role of United States Investment in South Africa 123
  • Notes 162
  • Chapter 5 Namibia 170
  • Notes 211
  • Chapter 6 Southern Rhodesia 217
  • Notes 227
  • Chapter 7 Former Portuguese Colonies 230
  • Notes 247
  • Chapter 8 the Prospect of International Boycotts 251
  • Notes 264
  • Chapter 9 Summary 267
  • Chapter 10 Conclusions 280
  • Appendix I U.S. Corporations with Operations in South Africa 289
  • Appendix II Companies with Operations in Namibia Linked with South African Investments 297
  • Appendix III U.S. Corporations with Interests in Southern Rhodesia 299
  • Appendix IV Universal Declaration of Human Rights 306
  • Index 311
  • About the Author 333
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