Algérie : les illusions de la richesse pétrolière

Thirty years after the nationalisation of hydrocarbons Algeria’s oil wealth seems to have disappeared judging by its absence in the country’s indicators of well being. In Algeria oil led to happiness for a few and sadness for many. The absence of controls over oil revenue led to the industries downfall. Since 2002 Algeria is again seeing oil wealth. The increase in the price per barrel from 30 to 147 dollars between 2002 and 2008 provided the country with unexpected revenue permitting it to accumulate funds estimated, in 2009, at 150 billion dollars. Abdelaziz Bouteflika, returned to a devastated Algeria to restore civil order, unexpectedly benefited from this price increase. Thus, in addition to national reconciliation he was able to offer Algeria renewed economic growth. However, given that the wounds of the 1990s are not entirely healed and the illusions of oil wealth have evaporated this unexpected return of financial abundance raises concerns. To what ends will this manna be put ? Who will control it ? Will it provoke new violence and conflict ?