by: Mike Miller
6/10/2018

I know it seems ludicrous, but it could be possible to bring down the price at the pump with stop theft classes. Do you know how? I’ll tell you.

Any time there is theft in great quantities of a certain product it can create a dearth of that product and the price will go up. It is called the law of supply and demand. Stealing oil drains part of the supply. As reported in www.google.com.

Nigeria suffers from a major problem with oil theft. Thieves are so bold as to build makeshift refineries to make the oil more valuable.

Oil theft is a major underground industry that Nigeria says it is now trying to stop.

Oil companies such as Shell say crude theft has surged in Nigeria, with estimates that the country loses some $6 billion (4.6 billion euros) per year in revenue as thieves sabotage and syphon off pipelines in the vast wetlands of the delta.

How can $6 billion a year not effect pricing?

The illegal refineries are only one part of the illicit industry in Africa's biggest oil producer, and concerns have grown over its alleged international dimension. Oil theft in Nigeria very likely involves a lot of international syndicates.

The best scenario is to wean ourselves off of oil and use renewable forms of energy. The next best thing is stop theft classes for everyone. Wouldn’t you agree?