When is news not news?

When is news not news or just plain wrong? The following was tweeted by FinanceNewRT “Algeria Moves To Develop Oil And Gas Reserves (at Investopedia): http://is.gd/dFsY6 Algeria is aggressively develop” The article in question discussed data from 2009. Most of that was developed in 2008. Currently the Algerian Oil Ministry is in the throes of internal investigation, all contracts with foreign companies are being re-evaluated due to corruption in the Oil arm (Sonatrach). Many foreign companies are just maintaining their presence here until they see a bit more leveling of the playing field? The tax rate is very hight and just jumped on all foreign companies. the control of all development, in general, is 49% max by law, etc. Yes there is still a lot of growth here but the article pushed the idea that Algeria is booming in the oil business. Take a look at their long-term production numbers and project from limited data for 2010 and you will see no increase at all. They are fighting to just maintain or stay even. There is a lot of potential in Algeria but until they release the squeeze a little, the costs will go up and the output will stay the same or make a slower decline.
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