David Frum

06.26.1210:50 PM ET

The Tragedy of Nigeria

The deeply dysfunctional oil-rich state now estimates its losses to oil theft and fraud at $14 billion per year:

The trade in stolen oil now involves a sophisticated criminal network and international traders who provide oil at discounted prices to refineries in west Africa and in China and India.

Makes you wonder why they are wasting time sending out preposterous scam emails when there's real money to be made through less hopeless criminal schemes.

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