Cheap Oil Is Sverely Impacting These African Nations

Reuters / David Mdzinarishvili

Peter Dorrie, Real Clear World: Where Cheap Oil Is Seriously Bad News

Crude oil has hit rock-bottom prices, and several African countries are getting the worst of it. Algeria, Libya, Nigeria, Chad, Angola and South Sudan are among the most oil-dependent economies in the world.

At the same time, these countries are facing some of the world’s most intractable security problems, and are relying on their petroleum-funded militaries to an extraordinary degree.

Nigeria and Chad are battling the Boko Haram insurgency and various other internal and external security threats.

Algeria and Angola are veritable dictatorships run by their military establishments. And Libya and South Sudan are embroiled in civil wars in which access to income from oil rents plays an important role.

WNU Editor: Even if oil was super expensive .... I doubt that these conflicts would be ending. In fact .... I can easily see some of these conflicts exploding to a level that would make today's battles trivial in comparison.