Nightline: Nigerian oil disruption could spike price of gasoline...$5-6/gal

[Blackhatjack]

It is not a question of if, but when, we will be facing a massive interruption of the supply of oil on the world market.

We have gambled hundreds of millions of dollars on trying to secure the flow of oil out of Iraq and the middle east.

We missed the opportunity of a lifetime to invest that money in an alternative energy program that would have cut our dependence on foreign oil.

Until we commit to energy independence, we will continue to be subject to massive price swings in the price of oil that could possibly destroy our economy.

[napi21]

1. I agree with you, but even if we started tomorrow, it would take

a LONG time to get enough cars & trucks on the road to make any difference.

I guess the other thing I don't quite understand is whyNigeria hates us now too? I heard the guy on Nightline say something about their king blaming the US oil companies for some environmental problems, but have I been unconcious for a long time? I can't recall hearing anything about all this hatered in Nigeria before tonight.

[Strelnikov_]

2. MEND

Movement for the Emancipation of the Niger Delta

Basically indigenous tribes pissed off about the oil wealth being siphoned off through PSA's with big oil and by corrupt leaders.




From the Wiki, appears accurate.

The Movement for the Emancipation of the Niger Delta ("MEND") is a militant indigenous people's movement dedicated to armed struggle against what they claim to be the exploitation and oppression of the people of Niger Delta and the degradation of their natural environment by foreign multinational cooperations involved in the extraction of oil in their homeland. MEND has been linked to attacks on foreign owned petroleum companies in Nigeria.

MEND's stated goals are to localize control of Nigeria's oil and to securing reparations from the national government for pollution caused by the oil industry. In an interview with one of the group's leaders, who used the alias Major-General Godswill Tamuno, the BBC reported that MEND "was fighting for "total control" of the Niger Delta's oil wealth, saying local people had not gained from the riches under the ground and the region's creeks and swamps." <1>


http://en.wikipedia.org/wiki/Movement_for_the_Emancipation_of_the_Niger_Delta

http://news.bbc.co.uk/1/hi/world/africa/4732210.stm


The Nigerian oil is the good stuff, sweet, light crude. And I expect it to be offline in the next five years.

[napi21]

3. I can't blame them for being upset. The oil barons have screwed them too!

Same as they screwed anybody who stood in the way of their profits! I only wish there was a way to punish theoil guys without hurting everyone else in the process.