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July 26, 2009


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The discovery of oil in northwest Uganda has attracted remarkably little attention. The amounts involved aren't huge, but they're not tiny either, and the oil will be (for a new 21st century field) relatively cheap and easy to get out.

The Chinese are all over that one. Sudan and the soon-to-be-independent-nation South Sudan, too.

Otherwise, not much to add.

Doug M.

3) is a bit confusing though, isn't it? If China expands investment, other people won't as the price declines accordingly. So there shouldn't be that much change from a world without china investing. The only way this doesn't seem like it would be true is if capital to invest in the oil industry really is limited, which would be surprising to me.

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