Energy Games

Not wishing to be held hostage to Russian caprices, the EU is seeking to diversify its gas sources and partner with Algeria. Meanwhile, "OPEC President Chakib Khelil, speaking in his capacity as Algerian energy minister, said on Tuesday he favored an OPEC oil output cut to counter a slowdown in demand for fuel."

Economic Update: Inflation

Has anyone seen a "sorry we had to raise prices" sign at the deli yet? Algeria seems to be both benefiting from and hurting because of the global inflation going on. Food prices are rising in the local market, but higher oil revenues are helping the country offset debt.

The Gas Flaring Problem

Looks like the Yar'Adua administration has pushed back the deadline to end gas flaring in Nigeria. An editorial in the Guardian has this to say:

The practice of gas flaring is unimaginative and ultimately harmful to the long-term interests of the nation. Nigeria flares about 2.5 million metric cubic feet of gas daily. The World Bank calculates the losses at over $2.5 billion annually. ... Nigeria with its huge population cannot afford to take a myopic view of the future by basking in the glow of crude oil sales whilst at the same time neglecting the associated gas which will ultimately outlive oil as the mainstay of our economy.

This is a big climate change and pollution and health problem. Of course, on all my Chinatown bus rides up I-95 I've noticed several American companies still flare.