[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...

[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...

[Straight Vermonter]

Pretty small place for all that oil.

[ROCKLOBSTER]

WOW!

Well I guess our next president should be a Ugandan.

[blackminorca]

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

[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.

[Royal Wulff]

Uganda has established reserves at 3.5 million barrels of oil per day.

Reserves aren't measured in terms of production rate. They're measured in terms of volume.

[mamelukesabre]

We’ll never see any of it. What little they produce will be controlled by the OPEC cartel. Unfortunately, the ugandans will probably never see any of it either.

[Bender2]

Re: "You are blessed with amazing reservoirs. Your reservoirs are incredible. I am amazed by what I have seen, you might rival Saudi Arabia," Kornfeld told a visiting delegation from Uganda in Washington

If I recall correctly was not Uganda on the table once upon a time as consideration for the Jewish Homeland?

Now, doesn't that open up a passel of irony?

[R W Reactionairy]

The “3.5 million barrels a day” and the “rival Saudi Arabia” claims don't square with other reports.

There is some oil in Uganda. It was discovered in 2006. Some drilling has occurred since. Whatever they have is not yet in production.

http://www.voanews.com/english/archive/2009-03/2009-03-25-voa51.cfm?moddate=2009-03-25

[ZULU]

Yes but why would the oil companies produce MORE oil when they are doing so well with so LITTLE?

[okie01]

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.

If I am not mistaken, Red China also has considerable involvement in Uganda. Now, we know why.

[EBH]

Any new find in oil won’t make a difference unless it is American drilling. EOD!