Sunday, January 13, 2008

Vanity Fair Asked in February 2007 Whether Nigerian Rebels Could Cause a Recession in the U.S.

Last February 2007, Sebastian Junger wrote a piece for Vanity Fair about Nigerian militants in the Movement for the Emancipation of the Niger Delta (MEND) whose activities have targeted the oil industry.  His article leads with the following question:

Could a bunch of Nigerian militants in speedboats bring about a U.S. recession? Blowing up facilities and taking hostages, they are wreaking havoc on the oil production of America's fifth-largest supplier.

Since that article was published, oil industry attacks in Nigeria have continued, the price of oil has nearly doubled from $55/barrel a year ago to $95/barrel today, and the U.S. military has organized AFRICOM (the African Command), which is located off the Nigerian coast of Africa. Saturday the Wall Street Journal reported that "Odds of Recession Seen Rising" (see here).


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