Uganda: Oil Reserves Rival Saudi Arabia's, Says U.S. Expert

East African Business Week (Kampala) ^ | June 2, 2009 | Edris Kisambira

[Iron Munro]

If true, it's good news in the sense that any significant new oil discoveries might help moderate the push for higher prices by OPEC and others. Some of the bad news is that Uganda doesn't exactly have a rational government and the country also has a close relationship with Iran and is negotiating a deal for Iran involvement in the development of the Ugandan oil find.

Additional related info at this link:

http://allafrica.com/stories/200906020555.html?viewall=1

[Ancient Drive]

I guess it’s too late to buy some real acreage in Uganda..

[Bringbackthedraft]

GREAT, Now the tribal wars shall continue to see who gets to control the oil.

[USFRIENDINVICTORIA]

Just in time for BHO, Algore, and the UN to ban oil.

[Star Traveler]

But..., but..., this can’t be true. I’m sure we’re running out of oil on this planet. This discovery is surely going to foul up things with that idea...

[John123]

Hurry up and bow to the Ugandan President, Obama...

[balls]

The Chinese are on the sidelines and will jump in at any moment now.

[Enterprise]

Ah yes. Uganda. I remember the movie well. “Uganda With the Wind.” Charlotte was always saying, “Oils well that ends well.”

[Conservative Vermont Vet]

But, but, we have been continuously reminded (for what the last 100 years?) that "PEAK OIL" is a reality and there is a finite supply thereof, thus we MUST alter our lifestyles in order to conserve what "little" is left?

Uganda may be buddy-buddy with Ach-Ma-Dhimi-Job, but they are no doubt NOT stupid.

And, when they observe how the Saudis and others live based upon their oil revenues and I predict that they will want to develop this "find" to maximize their profits--even if it should mean making a deal with the Devil (or The BIG Satan)!!!

[null and void]

Some of the bad news is that Uganda doesn't exactly have a rational government

But then again, neither do we...

[ken21]

china.

[Straight Vermonter]

Pretty small place for all that oil.

[ROCKLOBSTER]

WOW!

Well I guess our next president should be a Ugandan.

[cranked]

China is more than on the sidelines when it comes to Uganda...and its oil.

http://www.china.org.cn/english/features/wenjiabaoafrica/172550.htm

http://www.chinadaily.com.cn/china/2006-06/24/content_625149.htm

http://news.xinhuanet.com/english/2009-01/14/content_10653285.htm

[blackminorca]

Umm - what was that term that was so fashionable a couple years ago - pack oil? pick oil? oh -right PEAK OIL!

[ModelBreaker]

Getting that oil to the ocean is going to be a problem. This is Africa. Thugs will be contending to control the tap. Blowing up pipelines for the out-of-power team will always be a good strategy to hurt the in-power team.

[Iron Munro]

But then again, neither do we...

[Dr. Bogus Pachysandra]

Poor Idi, “I’ll eat your liver” Amin bugged out too soon!

[HardStarboard]

Long as we drill right through Edi Amin’s body, I have no problem with drilling in Uganda.

Personally, I’d like to see us help Israel exploit her offshore oilfields first.

[STONEWALLS]

“Getting that oil to the ocean is going to be a problem. This is Africa....”

...ain’t that the truth!

Stonewalls, a longtime shareholder in Chevron; a company that’s no stranger to political risk in African oil production.