A Barrel of Crude for $100: In defense of Nigeria
Austin 'Dwiggs' Mackenzie, a Chemist, an environmentalist and writer was born and bred in Lagos. He has to his credit several published articles, essays and short stories. He currently resides in Ontario, Canada. His blog.View all articles by Austin 'Dwiggs' Mackenzie
They analysts always predicted it and I always wondered who would get the blame for crude oil prices reaching the much-dreaded yet expected $100 price for a barrel. I thought the commodities speculators on Wall Street would blame themselves for creating this phenom (I think foolishly sometimes) or that ‘Big oil’ would come clean and say, “we are responsible.” Neither of this major players owned up but instead they once again tagged “fears about the unrest in
I do not here try to deny or refute that the present situation in the
The issues in the Niger Delta of Nigeria have been on-going for decades now, the main issue is one of an unimaginable greed perpetuated by the major oil companies, some corrupt Nigerian officials and host communities in the region trying to get back after decades of neglect. This greed has led to the current siege by gangs, rebels, militias (or whatever they want to be called) perpetrating mayhem on the region and its already impoverished citizens.
One would think that since all the ‘unrests’ were a common occurrence, OPEC, Big oil and other countries that import oil would adjust their expectations from Nigeria. Why still blame a situation created by the corporate greed and an insatiable taste for
The truth is that investors, the big oil companies and their promoters are the very interests benefiting from the spike and not
The major oil consuming nations, the oil corporations and the very people causing unrests around the world in