January 20, 2003 |
As vast offshore oil fields generate hundreds of millions of dollars for tiny Equatorial Guinea, there are few signs of the petroleum boom in the impoverished West African nation. Most of the population lives on about a dollar a day, and a U.S. State Department report found "little evidence that the country's oil wealth is being devoted to the public good." So where has the money gone? That has been declared a "state secret" by Equatorial Guinea's ruler, Brig. Gen. Teodoro Obiang Nguema Mbasogo.