Sunday, May 11, 2014

Europe more dependent on Nigerian oil than the USA

According to recent EIA statistics, 44% of Nigerian oil exports go to Europe. Meanwhile, the fracking boom has reduced US dependence on imported oil.
Consequently, don't be surprised at European efforts to stabilize Nigeria, as evidenced by a recent report that France is sending secret service agents to Nigeria. The infrastructure threat is not theoretical, as Boko Haram has threatened oil refineries.

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