All that Glitters Is Not Gold

Oil is black gold, and its recent discovery in potentially commercial quantities in Namibia is a mixed blessing. QatarEnergy discovered light oil in their Jonker-1X deepwater well located 270 km off Namibia’s shores. We write this editorial knowing that years will pass before champagne corks are popped, and Namibia begins to rival the barrels of daily crude oil production of Nigeria, Angola, or Gabon. Nevertheless, the discussion about Namibia as an oil producer must start in earnest. Understandably, there must be a joyous gleam in the eye of those struggling to manage the debt-laden national budget while waiting for more…