Sunday, August 22, 2010

Newly Discovered Oil Reserves in Uganda

Oil equals money for developing countries like Uganda. Despite the environmental concerns that have not been address, I am baffled by the amount of secrecy surrounding the deals with the government, which, like many African governments, have been accused and cited for corruption. I just hope that the revenues from the oil are used wisely to benefit the livelihoods of Ugandans, and doesn't turn into a story like Nigeria, where for decades the oil revenues have not been used to develop the country and the economy became oil over-dependent. Read the article from CNN.com.

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