Gangs clash in Nigerian oil city

Over the past two years, an insurgency based around MEND (the Movement for the Emancipation of the Niger Delta) has massively impacted upon corporate oil extraction in Nigeria. MEND has declared a ceasefire, and is distinct from other groups that have arisen as oil prices have rocketed and government repression has continued, and it seems to be two of these groups that have reduced Port Harcourt to a battle-zone.

At a time when sub-prime mortages are ripping through global balance sheets and oil prices are in any case extremely high, not to mention the noises coming out of China about dumping dollars, this instability could send oil prices through the roof, and bring much of the global economy crashing down.

We are only a series of barely related developments away from such a scenario.

Four people have been killed in gun battles between rival gangs in Port Harcourt, the main city in Nigeria’s oil-rich Niger Delta region.

A large fuel-pumping station in the city was also attacked.

The latest violence brings the number killed in nearly a week of fighting between gangs to at least 10 people.

Violence around Port Harcourt has increased since militants launched a campaign last year for a greater share of oil revenue for the poor region.

Posted by Szamko
Just tries to tell the truth.