I've got contacts in Galhagoog. Baraarug wanted to setup Hobyo Port as the main gateway for Oil exploration in Mudug, with Mareeg exporting in Galgaduud and Cadale exporting in Hirshabelle. Until the terror threat is neutralised forever, we will still have to hold fire. Anyway, i wouldn't get too excited personally. Read about the history of Venezuela. They serve as a cautionary tale of a corrupt petrostate. Only deriving income on taxing foreign drillers. Foreign companies owning large shares and competing within to get better options. OPEC shifting their customers away anytime they wanted to control prices. Chavez once nationalised all the production but it didn't stop their economy relying on exports and foreign capital. 50% of Venezuelans live under the Poverty Line. And they are suppose to be the richest Latin Americans.
What you need, is honest, far-sighted leadership. The Qataris have stable leadership who aren't concerned about the incoming presidencies after them who will siphon funds away from the state or into another mans pocket. What Somalia needs, is a sovereign wealth fund. The proceeds of all our resources (Gas, Oil and Uranium) to be put back into reinvestment and grow our tentacles. Qataris invested in Barclays, Credit Suisse etc Banks, Automobiles, Hotels, Entertainment and Sports. They have typified the rich Arab merchant. They have protected their small native population with an incredible amount of perks, there is literally no such thing as a broke Qatari, while Somalis are quite capitalistic in that regard, we might have a clan system but we are not highly generous to spread the wealth. You'll often hear a clan has many subclans who are divided into subclans with one dominating politics, another dominating religious affairs and another dominating the wealth. Clearly this divisive way of thinking cannot work in a nation state. So while i've accepted that the average Somali will never benefit from the Oil surge, as long as Somalia can improve its buying power and standing on the global order then that is enough progress for me.
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