July 29, 2004

Taxpayer subsized Oil Security Costs


John Robb makes an excellent point:

The US is negotiating to launch a coastal security program for Nigeria. Wants access to bases for training and rapid deployment in case of a crisis. More "free" protection for oil companies. We need to find a way to allocate these costs so that they are incorporated into the price of oil. Currently, we spend $4-5 in naval protection for every barrel that is shipped from the Persian Gulf. Nobody pays for it but the American tax payer.
We're also subsidizing the Europeans and all other net oil importers.

Posted by James Zellmer at July 29, 2004 9:04 AM | Subscribe to this site via RSS:
Posted to Energy