The Monitor (Kampala)
28 October 2009
The recent announcements by Tullow Oil that it made a potential multibillion-barrel oil discovery in western Uganda have exhumed memories of the oil curse amongst some Ugandans. The oil curse emanates from the resource curse theory which is a paradox of plenty; suggesting that nations well-established with abundant natural resources may fail to develop in other sectors, ultimately culminating into ...
[ See Article ]
Mr Mbagadhi has some real and valid points. The key to keeping oil revenue from being a curse is to keep it small and slow. It is very important to keep it from being the government's main source of revenue, which would (has elsewhere) divorce the government from the people.
Develop and produce your oil slowly and for your own use. The injection of money into an economy is the real nature of the resource curse.