Uganda has no need of country by country reporting
Posted by Christie Malry on October 12, 2011 at 10:34 pm
Courtesy of Ritchie, we find on the BBC website:
Uganda’s parliament has voted to suspend all new deals in the oil sector following claims that government ministers took multi-million dollar bribes.
MP Gerald Karuhanga said in parliament on Monday that UK-based Tullow Oil paid bribes to influence decisions.
Ritchie concludes from all of this that:
This is great news! Corruption of this sort has to be tackled: those involved have to be named and oil revenues have to be made accountable, most especially through country-by-country reporting.
Uganda has taken a step in the right direction.
Er, no, that doesn't follow at all. Uganda tells big bad oil companies that if they want to pump all that lovely Ugandan oil then they're going to need to play by Uganda's rules. In order to show them that Uganda is serious, they're all going to have to sit on the naughty step for a while.
We don't need country-by-country reporting to get them to toe the line; countries like Uganda have shown us that they're more than capable of handling corruption on their own. And because they've got the black sticky stuff companies want, companies will have to do as they're told.
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