In Uganda, It’s Bust Before Boom

Feb 2, 2015 | Robert Looney
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The astonishing oil price drop of late 2014 reminds us of the inherent weaknesses of petro-states. Oil-dependent countries like Russia, Venezuela, and Iran are struggling to cope with sagging revenues. But what if your oil hasn’t even started to flow? Here, Roberty Looney opines that Uganda picked the wrong time to mortgage its future to oil.