Everyone's favorite fungible commodity is causing some real trouble in Nigeria, where rebels claiming to represent "ethnic Ijaw communities" are laying siege to property owned by Royal Dutch Shell, the Guardian reports. There's even a hostage crisis brewing:
The group of three Americans, two Thais, two Egyptians, a Filipino, and a Briton -- John Hudspith -- were seized by up to 40 gunmen who stormed a pipe-laying barge. In emails to news agencies, the Movement for the Emancipation of the Niger Delta (Mend) said its goal was to punish oil corporations and the government for siphoning off the region's wealth without returning anything to its impoverished ethnic Ijaw communities; as well as saying the hostages' fate had yet to be decided, the movement also warned that they might end up being killed in crossfire with the army.
The rebels managed to halt about a fifth of supply in Nigeria, which according to the Wall Street Journal is "Africa's leading oil exporter and the U.S.'s fifth-largest supplier, usually exporting 2.5 million barrels daily." Crude surged past the $60/barrel mark on the news.
I wonder what ol' Shotgun Dick Cheney thinks of all this.