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U.S Says Reliance On Nigeria's Oil A Threat

 

The United States has said part of the threat facing it today is over dependant on oil from Nigeria and other parts of the world where corrupt and desperate leaders have abused democratic norms, fanned terrorism and collapsed the economy of their countries.

 

Following the unreliable oil flow in the Nigeria’s Niger Delta region as a result of arm insurrection by Militant groups, Iraqi crisis, Iranian-United States diplomatic face off and the onslaught of Hugo Chavez, Venezuelan leftist dictator, the United States is exploring and intensifying research for commercial use of Bio-fuel, mainly Ethanol.

 

Presently, a gallon (4 Liters) of fuel averages $3.50 cents with no possibility of price reduction.

 

Delivering a statement for the Hearing on National Security Implications of Climate Change at the Senate Committee on Foreign Relations, Senator Richard Lugar, Ranking Leader of the Committee noted that revenue flowing to authoritarian regimes over the years have increased corruption and endangered democracies in developing countries.

 

“We are transferring Billions of dollars each year to some of the least accountable regimes in the world,” Lugar noted.

 

According to him, “…The revenues flowing to authoritarian regimes often increase corruption in those countries and allow them to insulate themselves from international pressure and the democratic aspirations of their own people,” Lugar said in a tacit reference to the recent electoral fraud in Nigeria.

 

He pointed that with the seeming desperation for oil “world’s oil-hungry economies are competing for insufficient supplies of energy, oil will become an even stronger magnet for conflict,” Lugar stated.

 

The Republican Senator disclosed that with China, India and other industrializing nations seek energy supplies, oil and gas will become more expensive as world supply may not be enough to support continued economic growth in both industrialized West and rapidly growing economies.

 

Senator Lugar added that while adversarial regimes are using energy supplies as leverage against their neighbors and a weapon of choice for those who possess it, “Nations experiencing a cutoff of energy supplies, or even the threat of a cutoff, may become desperate, increasing the chances of armed conflict, terrorism, and economic collapse,”

 

The Ranking U.S Senator noted that with developing countries being hit hard with high energy cost, incomes of energy poor countries will remain depressed with negative consequences for stability, development, disease eradication and terrorism without the diversification of energy sources that are environmentally friendly and abundant in developing countries.

 

 

 

 
 
 
 
 
 
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