On May 6, 3:42 pm, Tom Adams <[EMAIL PROTECTED]> wrote:
> Oil went just up on due to an attack against the oil infrastructure in
> Nigeria.
>
> The news does not seem to provide much depth on what is going on in
> Nigeria, so I did a little digging on the Web.
>
> Apparently, attacks on the oil production in Nigeria started with an
> local Niger Delta ethnic youth movement called "Operation Climate
> Change" in 1999. This history of this is somewhat obsure. I guess
> it has some connection with global warming, but a big motivation seems
> to have been local environmental degradation due to the oil
> production. The goal seemed to be to shut down the oil industry in
> the Niger Delta area.
>
> The current situation seems to have grown from "Operation Climate
> Change", the resulting government repression, and the fact that the
> local ethnic population is not benefiting from the oil production.
>
> Nigeria is a republic, but its one of those nations that the Britain
> cobbled together from a bunch of ethnic groups and the dominate ethnic
> groups are not doing a good job of addressing the grievances of the
> minorities.
The Nigerian problem is only a small factor in the oil price. Nigeria
is the eighth largest oil produce and we have lost 25% of its
production. We lost all of Kuwait's oil production during the first
Iraq war but the price of oil was much lower than that today.
The real problem is that we have hit Peak Oil, and any disruption to
the supply of oil will send the price soaring. The global economy is
about to crash. Next we will be hit by a climate catastrophe without
the resources to deal with it since ther will be no oil left :-(
But it is optimists who rule this world. They are the ones who are
successful in boom times. So not only am I ignored, but also a
catastrophe is inevitable!
Cheers, Alastair.
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