It might have been the case in the past but it is no more.
As much as we hate the United States of Africa (USA), believe it or not they are not waging wars for oil.
USA and Canada have massive oil and natural gas deposits so claiming that they are in Uganda for oil which is still in the ground is nothing short of a joke. Then many Ugandans are on record all over FBzero claiming that USA is in South Sudan for oil. If they put up an argument for DRCongo, I would agree because that country has minerals galore.
USA is in wars for selling ammunition and fighter jets. So is Canada which no one pays attention to. Bombardier no longer sells trains and passenger jets...a bit but not too much. You should read up on how much money Canada made selling fighter jets and armoured vehicles to Saudi Arabia to blow Yemen to smithereens.
USA believes in democracy and never blame them for the Arab Spring. They just hate seeing despots killing their own citizens and then will drop some 59 Tomahawk missiles on you or just plain see your nuclear tests go up in smoke. Ask North Korea.
Why the world must resist USA aggression is because they hold a double standard. For far too long America has built up and supported dictators and perhaps that is the reason why the world is angry and terrorists are all over the place. America will build you up and then watch you crumble. Uganda's dictator President Yoweri Museveni is very intelligent but a very poor student of history. He should consult with Sadam Hussein and Gadafi.
We now get Bloomberg reports (if you do not follow me on Twitter, that is your risk @mlnangalama) and OPEC is going for another cut. Listen up oil investors, USA and Canada are not in OPEC. Two years ago when oil was in the dumps, many rigs were shut down. For every barrel that OPEC cuts back, Canada and USA will open up another rig.
Oil can no longer be the biggest driver because most oil producing countries are run by dictators and the oil money goes into off shore accounts of the people in power. Meanwhile countries which care about their people like Norway or Canada will use the oil money to pay for schools, roads, hospitals and research. Africa has a very poor record of using oil money for the people. Case in point might be Nigeria. Worse, Angola or Congo. Then the hurry come up Uganda.
Have you seen what is going on in Venezuela but even Saudi Arabia is privatising their airports to defer from oil dependence. Kenya alone has hundreds of barrels of oil stocked up for when they start exporting in June 2017. Uganda is still scamming potential investors to the point where Heritage Oil walked away to cut losses and this year Tullow did the same. Both companies are laughing in Kenya though. That is what you get for hiring IDIOTS to run a major resource company or a school drop out to run your ministry of ICT.
Back to why Oil will hang in the $50s or at best touch $60 is because of fracking. USA and Canada will beat down any price you throw at them for having first of all too much oil and then for fracking. In fact when it comes to attacking USA for oil, remember we give them the keys to drill in Canada with no fight as long as they love Hockey.
Martha Leah Nangalama
Conflict of interest: I have only worked for an oil company since I graduated so my opinions might be biased and I own shares in oil I do not care to see their value dropping because with each drop, I can buy more shares cheaper.