ReadWriteWeb has a post on Google’s announcement today that they’re rolling out their Social Graph API. The API is based on open source so it should be interesting to see where this development goes. The announcement comes on the heels of Google (amongst others) joining the DataPortability Working Group. They’ve posted a cool video primer on how the API works. You can watch the video here.

This has the potential to be something really cool because I, for one, hate having to re-populate my lists of every account I create online. Here’s a question though, do we sacrifice anything through all this connectivity? I’m not sure. I do like that Google has specifically said that their API returns only public connections from public pages. But, that might not necessarily be the case in the future.