This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Algeria Attacks Pose Fresh Security Issues

"There will need to be reassessment," said McCredie, now CEO of Forbes Research Group in the United States.

Nigel Inkster, a former senior British intelligence officer who heads a risk-analysis unit at the International Institute for Strategic Studies in London, said the incident raised questions both for oil companies and Algeria.

"The boardrooms of oil companies looking to work in Algeria are going to be convulsed by this, and uncertain of how to proceed," Inkster said. "It raises all sorts of concerns about all sorts of economic activity ... (including) uranium mines in Niger, which are pretty important to the global economy."

Algeria has taken a strong tack against the terrorists, rejecting offers of help from Britain, the U.S. and other to go it alone in a typical tough and uncompromising response. BP and Statoil were compelled to entrust their employees lives to the Algerian security forces, and that won't change â¿¿ at least immediately. Algeria insists that it has the know-how to assure the security of energy plants.

"We are going to reinforce the security and we will rely first of all on our own means," Algerian Energy Minister Youcef Yousfi said on Sunday, according to state news agency APS. "There is no question of accepting outside security forces."

BP and Royal Dutch Shell, whose employees in Nigeria have been the targets of gangs of kidnappers and militants, would not comment on security arrangements in Algeria. But Ted Jones, the CEO of specialist evacuation company Northcott Global Solutions in London, noted companies alarmed by the attack are scaling up their physical security, moving from unarmed to armed operations, and shifting nonessential staff to safer locations.

Companies can become complacent after a period of safe operation, he said, then change course when something terrible occurs.

"Suddenly something like this happens and they realize they're much closer to the danger ... and there's a sort of panic response, which is perfectly natural," he said.

2 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $93.24 -0.41%
FB $117.81 -0.21%
GOOG $701.43 0.82%
TSLA $211.53 -4.96%
YHOO $36.94 2.61%


Chart of I:DJI
DOW 17,660.71 +9.45 0.05%
S&P 500 2,050.63 -0.49 -0.02%
NASDAQ 4,717.0940 -8.5450 -0.18%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs