Avast! number of pirates took to the waters around Somalia in 2008. Among their long and growing list of victims were a Ukrainian ship laden with arms (including 33 Russian battle tanks) and a Saudi Oil tanker containing two million barrels of oil worth $100 million. The pirates were demanding the bargain basement prices (when compared to the billion dollar demands we have come to expect from their more polished North American cousins) of $20 million and $25 million, respectively, for their safe returns. Prince Saud of Saudi Arabia told reporters, “Like terrorism, it [piracy] is an evil that has to be eradicated“. Imagine an OPEC or Oil Company representative blaming someone else for partaking in some honest to Robin Hoodness extortion. Regardless, I am sure all the bad guys will eventually sort things out among themselves and pass the costs along to the consumers/tax payers. Already there is an unprecedented number of military warships patrolling the Gulf of Aden with even the Russians cooperating in an effort to protect the interests of big business (at the taxpayers’ expense).
Jan 01