These occurrences have become far too common. It seems every month our trading floor goes crazy because some European or American and now Chinese has been kidnapped from an oil field in Nigeria because the local militias decide they want to disrupt extraction.
These attacks cause massive fluctuations in crude oil prices for the consumer.
Can you blame these rebels?
The latest attack was one in Ethiopia, until recently foreign oil operations in Ethiopia have not experienced such attacks, but it seems this type of attack is increasing throughout Africa, starting in Nigeria, now on to Ghana, Sierra Leone and Ethiopia amongst others.
These local militia groups attack these oil fields because they are being robbed of their countries resources and essentially wealth. Don't get me wrong...these big firms pay these states tons of money, provide some oil revenue and subsidized prices but none of this ever reaches the people. It is for this reason these militias attack, their land is stolen and they are given nothing...its a shitty situation yea??
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