IPS: Lower gas prices hit Africa hard

Falling oil prices are happy news for American car owners but disastrous news for Africa which was recently celebrating an “oil boom” around the continent.

Some energy consultants see falling prices as a political maneuver by the West designed to bring rebellious countries to their knees. Saudi Arabia also had a bone to pick with Iran.

Soon there was a glut of cheap oil, pushing down prices in Iran, Russia and Venezuela. But the “collateral damage” of these price manipulations have been the people of Nigeria, Angola, Ghana and Uganda whose economies are heavily oil-dependent.

Examples of the pain abound. In Angola, government is budgeting major spending cuts on HIV/AIDS programs. According to Bloomberg news wire, Angola will set aside $11 million to fight HIV next year, compared to $16 million in 2014 and $22 million in 2013.
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