Oil tankers are enormous, and ships that carry expensive cargo are designed to be difficult to board. Stealing can mean hijacking the original tanker, disabling its tracking devices, taking it to a location where it can’t be spotted, and transferring thousands of heavy barrels to a different vessel that can then be sailed away. Stealing crude also means finding a buyer for it, or else getting involved in the messy and dangerous business of illegal refining.
Over the past six months, the price of oil has plunged due to a global oversupply. And for some pirates, it’s just not worth stealing it any more.
Opinions:
This is positive as it means less crime on the high seas, however it is also a worry as Oil is so cheap that Nigeria Niger Delta militants have changed business to abducting their government personnel and family members demanding a ransom to release them. This also is prevalent when making comments about other illegal practices, for example it is scary to think what would happen if the US drug war was ended. As if the criminals could no longer profit from drugs, they may turn to even more negative activities.
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