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Africa's Oil Windfall Set to Dwarf G8's Promise to Double Aid

If crude oil prices remain at current levels, surpluses generated by Africa’s eight largest oil exporters could be worth US$ 35 billion (£19 billion) by 2015, dwarfing the pledge by G8 leaders at Gleneagles to double aid. According to Michael Warner, a Research Fellow at the Overseas Development Institute, this projected windfall, coupled with near-record high prices for several other commodities, could be enough to fund the Millennium Development Goals (MDGs).