Seismic tests over the past 50 years have shown countries up the coast of East Africa have natural gas in abundance. Early data compiled by industry consultants also suggest the presence of massive offshore oil deposits. Those finds have spurred oil explorers to start dropping more wells in East Africa, a region they say is an oil and gas bonanza just waiting to be tapped, one of the last great frontiers in the hunt for hydrocarbons.
The bad news is that notwithstanding that this is good news for energy users, oil and gas finds in East Africa may just provide bigger wads of cash for local corrupt elites to fight over, with few benefits reaching the people.
