The need for evidence-based policy advice is more urgent than ever, with the most sought resource in the region and the world, Uganda’s oil industry needs clear policies, regulations and approaches such that it can benefit the generations and the country at large. The best advantage is that discoveries have happened when many experiences have been verified and therefore, one would expect no grave mistakes in the sector like what has happened in most developing countries that have had the opportunity to exploit the resource like Nigeria, Libya, Chad and Mexico. Can the environment be conserved as the resource is being exploited, how sustainable can this wealth be tapped into without causing more damage.