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{
    "id": 595323,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/595323/?format=api",
    "text_counter": 325,
    "type": "speech",
    "speaker_name": "Hon. Nyenze",
    "speaker_title": "",
    "speaker": {
        "id": 1987,
        "legal_name": "Francis Mwanzia Nyenze (Deceased)",
        "slug": "francis-mwanzia-nyenze"
    },
    "content": "has struck gas while Kenya has struck oil and gas. We should not forget the other activities that we have used since Independence to generate revenue for this country. We should promote them as we also promote the extraction of hydro-carbons. I have also noted that there are no institutions. The Committee did a good job but never came up with recommendations for training institutions on petroleum and hydro-carbon products. In this country, we have a potato research lab. The potato industry is very small while the petroleum industry is big. The Committee should look into that so that there is an institution that trains people on how to exploit the new minerals. The Committee, under the able leadership of Hon. Jamleck Kamau, has done a good job. I am sure some of these small omissions that we have pointed out will be taken care of. In the areas of Turkana where we have discovered oil--- I have looked at your report and I think this will come up. In the recent past, I have read in the newspapers that Uganda is also negotiating with the Tanzanian Government for an alternative pipeline. I think this should be fast-tracked so that we do not lose Uganda since they have more oil than we have. If the pipeline passes through Kenya, it will have positive effect on the development of the Lamu Port and it will open up the Northern Corridor. It should be something that should be fast-tracked so that we do not lose that important contract. We know that there is a boom and robust cycle of oil. The price of oil has gone down because the Organization of the Petroleum Exporting Countries (OPEC) has not cut down production. The global economy has slowed down and consumption has decreased. Demand for oil is small. America has been flaking and other countries have been producing alternative energy sources. This has made the price of oil to come down. We know there will be cycles. There will be boom times when there will be a lot of money from oil and there will also be a cycle where oil will cost nearly nothing. It is good for this country. Through this very important Bill, the economy will be prepared for those cycles by diversifying into other activities. Hon. Speaker, as I said earlier, the economy should not suffer what we call the “Dutch disease”, where you depend on one very reliable commodity to bring revenue. In that circle, when you have a very low price, you start suffering from the “Dutch disease” where that one commodity loses value and the economy crumbles. There are existing examples of economies such as those of Russia, Columbia, Nigeria, the Gulf States and all the oil producing countries. We do not want this kind of situation to happen here in country. The Bill is good except for a few areas I have pointed out; it should be supported. The new legislation has put in place governance structures that will protect and promote this sector. With those few remarks, I support it."
}