Nigeria Oil Industry Taxes Residents, Environment

06/08/2011 03:53 pm ET | Updated Aug 08, 2011

For over 50 years now, the extraction of crude oil and natural gas from Nigeria's Niger Delta has meant wealth for a privileged few but has exacted heavy costs on residents and the environment. Nigeria is the world's 8th largest producer of crude oil, yet remains one of its poorest nations -- an estimated 70 percent of its 150 million residents live below the poverty line. The environment is paying a steep price as well.

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