Thwarted Terrorist Plot Highlights Importance of Suez Canal to Oil Trade

Friday, October 30, 2009

Since its completion in 1869, the Suez Canal has been one of the world’s most important waterways. By connecting the Red Sea to the Mediterranean, it allows ships to travel directly to Europe and beyond from the Middle East.

The Suez Canal still holds great importance today. According the U.S. Energy Information

UK trade gap widens as oil swings to deficit

The goods trade gap rose to £6.5bn from £6.17bn in May, with imports rising by 2.2pc and exports to non-EU countries falling by 2.6pc, the Office of National Statistics said. Economists had forecast a deficit of £6.2bn.

A large portion of the increase in the trade deficit was attributable to a widening of the oil deficit as production fell during summer maintenance work. The oil balance recorded a deficit of £315m after a surplus of £100m in May.

Oil Trade in Indonesia

Oil Rig in Nigeria

We know the oligarchy that is responsible for this oilgate. They are both in the public sector and private sector. Many of them are in the Nigerian Armed Forces and the ruling People's Democratic Party (PDP) of President Umaru Musa Yar'Adua and many of them are on the Boards of Directors of the leading banks in Nigeria. I am ready to expose them, but Let him be ready to sack them and arrest them for public trial. Enough is enough!

trade oil