- Published: Wed November 19th, 2008
- By: Michael Thompson
- Category: Business & Finance
Some of today's top Google searches are regarding Somalian pirates in the Gulf of Aden, off of Africa's eastern cost in the Indian Ocean. The Somalis captured a giant Saudi oil tanker that was heading southbound, so that it could pivot around South Africa and head for, yes, the United States of America.
The hijacked Saudi tanker contained 2 million barrels of crude oil, worth more than $100 million, according to the Middle East Times. Of course, t hat same crude would have been worth more than $200 million back in July, but it's still quite a haul. In fact, it represents 25 percent of Saudi production in a single day. Therefore, if you start to see the price at your lowest gas station start to inch upward, you will know at least one of the reasons.
International policing crews are trying to stop the pirates. International policing crews, by and large, are failing. The Gulf of Aden is like a shark's den for the Somali oil pirates. Saudi Foreign Minister Saud al-Faisal says the seizing of his nation's ships is similar to terrorism. He describes oil piracy as "a disease which strikes blows to the whole world."
How do the pirates operate? They approach in speedboats, capture the crew, and order the oil vessels back to "safe havens" in Somalia. Then they call for ransoms for both the hostages and the oil, and often they collect, to the tune of more than $30 million this year.
U.S. Navy Vice Admiral Bill Gortney stated, according to the Middle East Times. "Our presence in the region is helping deter and disrupt criminal attacks off the Somali coast, but the situation with the Sirius Star clearly indicates the pirates' ability to adapt their tactics and methods of attack."
It would be difficult for the international community to take a step such as sanctioning the Somali government, because civil war-torn Somalia basically has not had a functioning government for the past 17 years.
The International Maritime Bureau reports that the latest Somali piracy is this year's 83rd in the Gulf of Aden, more than double last year's total. President-elect Barack Obama no doubt feels that he faces a crowded agenda of issues, but now it seems that he has yet another on his plate.
SOURCE
http://www.metimes.com/International/2008/11/18/somali_pirates_claim_biggest_heist_yet_-_a_saudi_supertanker/6765/

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