The BP Concession

Earlier this year I had the pleasure of reading Conrad’s Nostromo. Recent events have caused me to wonder if perhaps our President also did so.

It was an ordinary Costaguana Government–the fourth in six years–but it judged of its opportunities sanely. It remembered the San Tome mine with a secret conviction of its worthlessness in their own hands, but with an ingenious insight into the various uses a silver mine can be put to, apart from the sordid process of extracting the metal from under the ground. The father of Charles Gould, for a long time one of the most wealthy merchants of Costaguana, had already lost a considerable part of his fortune in forced loans to the successive Governments. He was a man of calm judgment, who never dreamed of pressing his claims; and when, suddenly, the perpetual concession of the San Tome mine was offered to him in full settlement, his alarm became extreme. He was versed in the ways of Governments. Indeed, the intention of this affair, though no doubt deeply meditated in the closet, lay open on the surface of the document presented urgently for his signature. The third and most important clause stipulated that the concession-holder should pay at once to the Government five years’ royalties on the estimated output of the mine.