Posted on 10/24/2022 6:22:36 AM PDT by SunkenCiv
Uganda and Tanzania are set to begin work on a massive crude oil pipeline a year after the International Energy Agency warned that the world risked not meeting its climate goals if new fossil fuel projects were not stopped. The two East African countries say their priority is economic development...
Eighty percent of the 1,440km- (895 mile) pipeline, whose construction will begin in a few months, will be in Tanzania including a terminal-storage facility in Chongoleani.
French energy giant Total Energies and Chinese energy firm CNOOC International also have a stake in the $5bn (£4bn) venture.
Because of the waxy nature of Lake Albert's crude oil, it will be transported through a heated pipeline - the longest in the world. But only a third of the reserves of 6.5 billion barrels, first discovered in 2006, is deemed commercially viable...
In September, the European Union waded into the controversy surrounding the East African Crude Oil Pipeline (Eacop), and called for it to be halted, citing human rights abuses and concern for the environment and the climate...
"They are insufferable, so shallow, so egocentric, so wrong," Uganda's President Yoweri Museveni said of the EU lawmakers...
Crucially, 92% of Uganda's energy already comes from renewable sources. In Tanzania, it is about 84%. Whereas for the EU it is 22%, according to the International Renewable Energy Agency...
The first oil is expected to be tapped in three years with at least 230,000 barrels pumped out every day at its peak - projected to earn Uganda between $1.5bn-$3.5bn a year, 30-75% of its annual tax revenue. Tanzania will reportedly get at least $12 a barrel, close to $1bn a year.
(Excerpt) Read more at bbc.com ...
Well said... Make a meme with those same words with a good pic and I’ll be the first to steal it!! :P
It was that second sentence, wasn’t it? :^)
Yep... Get it it down to 6 or 7 words and send it to press!!
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.