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Latest Oil Price: $44 per Barrel - Crisis Looming - Politics (2) - Nairaland

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Re: Latest Oil Price: $44 per Barrel - Crisis Looming by Nobody: 1:51pm On Oct 11, 2014
The more unlikely alternative is that FG shows some courage and sends American troops out of Nigeria and closes its embassy and start immediately to tackle the economic crisis starting with immediate slashing of the cost of governments to about a tenth of its current level.

Immediate crack down on corruption and jailing all looters for life until they cough up their loot afte which they may get a reduction in their sentence.

Fixing out electricity problems.

Start immediate diversification of the economy investing agriculture and ramping up trade with African nations.

Do you see our current government do all these thing?? Not likely.

talktimi:
you're trying to say people like Alh Asari were right all along ? The things you said are weighty but logical and I also wondered why the sudden silence even from mrs Ezekwesili.

Apart from a military take over, how else do you think the events you predict can be averted ?
Re: Latest Oil Price: $44 per Barrel - Crisis Looming by gebest: 2:43pm On Oct 11, 2014
optimumprimus:
the USA does not need Nigeria's oil. the USA has oil and gas reserves to last for more than 300 years . the USA has more natural resources than Nigeria and most of Africa.
list of American resources :natural gas, timber,Oil, coal, copper, lead, phosphates, rare earth elements, uranium, bauxite, gold, iron, mercury, nickel, potash, silver, tungsten, zinc .


oil is actually not needed anymore but the oil companies are greedy and are doing all they can to prolong their streak . we have electric vehicles (Tesla) $80,000,more people are buying them , they will be more cheaper in the next 10 years .
we have solar panel roofs ,more people are using solar panel roofs ,they will become more cheaper and affordable in the next 10 years . plus,thorough research is ongoing at this time to increase the capacitance of a single square foot of solar panel, this mean that a single square foot of a solar panel will be able to store more kilowatts(there are now different colors of solar panel such as red,grey and black .

below is a tesla electric vehicle ,it does not emit carbon dioxide nor any gas at all into the atmosphere,it simply has no exhaust pipe . all you have to do is charge it. it runs as fast as a gas car .
the other vehicle in the pic below is a rendering of a solar electric vehicle. once the capacitance of solar panels is increased there'll be no need to charge electric vehicles .
those things u mentioned dat america has, Nigeria have them too.

3 Likes

Re: Latest Oil Price: $44 per Barrel - Crisis Looming by kobonaire(m): 7:55pm On Oct 11, 2014
GenBuhari:

...USA already has troops on the ground in Nigeria ..
Oh yeah? I'm sure you learned that 'fact' from PM News right??

2 Likes 1 Share

Re: Latest Oil Price: $44 per Barrel - Crisis Looming by kobonaire(m): 8:04pm On Oct 11, 2014
optimumprimus:
Bros, save your time trying to reason with that 'Gen Buhari of NL' ... head scratching posts are his shtick .... from denying the existence of Ebola to many other equally stupefying conspiracy theories. Your time is better spent engaging with other intelligent minds on NL and not harebrained individuals.

2 Likes

Re: Latest Oil Price: $44 per Barrel - Crisis Looming by MeAboki(m): 10:46pm On Oct 11, 2014
optimumprimus:
the USA does not need Nigeria's oil. the USA has oil and gas reserves to last for more than 300 years . the USA has more natural resources than Nigeria and most of Africa.
list of American resources :natural gas, timber,Oil, coal, copper, lead, phosphates, rare earth elements, uranium, bauxite, gold, iron, mercury, nickel, potash, silver, tungsten, zinc .


oil is actually not needed anymore but the oil companies are greedy and are doing all they can to prolong their streak . we have electric vehicles (Tesla) $80,000,more people are buying them , they will be more cheaper in the next 10 years .
we have solar panel roofs ,more people are using solar panel roofs ,they will become more cheaper and affordable in the next 10 years . plus,thorough research is ongoing at this time to increase the capacitance of a single square foot of solar panel, this mean that a single square foot of a solar panel will be able to store more kilowatts(there are now different colors of solar panel such as red,grey and black .

below is a tesla electric vehicle ,it does not emit carbon dioxide nor any gas at all into the atmosphere,it simply has no exhaust pipe . all you have to do is charge it. it runs as fast as a gas car .
the other vehicle in the pic below is a rendering of a solar electric vehicle. once the capacitance of solar panels is increased there'll be no need to charge electric vehicles .

I concur with the above premise regarding advancements in exploitation of alternative sources of energy.
In addition, it is postulated that oil prices would eventually plunge even further due to predicted global glut; resulting from the recent huge finds in Australia and off the coast of Mexico. When these commence yielding and supply exceeds demand then prices will will be expected to plummet.

It is therefore advisable that we aggressively continue to diversify our economy before it is too late.
The Arabs are already miles ahead in this regard; just take a look at the UAE, particularly Dubai, because their leaders have more foresight and resolve than ours.

On the home front, those agitating for resource control ought to consider their position more carefully; because if this happens then they will be holding on to considerable less and less valuable asset; while the gods of fortune and misfortune may change sides, as resources elsewhere (e.g. land & agriculture in the north) appreciate considerably - and a new set of so called parasites emerge.

1 Like

Re: Latest Oil Price: $44 per Barrel - Crisis Looming by Nobody: 11:44pm On Oct 11, 2014
Oh so you haven't heard? You got some catching up to do undecided
kobonaire:
Oh yeah? I'm sure you learned that 'fact' from PM News right??
Re: Latest Oil Price: $44 per Barrel - Crisis Looming by kobonaire(m): 11:53pm On Oct 11, 2014
GenBuhari:
Oh so you haven't heard? You got some catching up to do undecided
Mr. General .... You made the claim that US troops have been deployed to Nigeria, so the onus is on you to back that claim.

1 Like

Re: Latest Oil Price: $44 per Barrel - Crisis Looming by Nobody: 12:03am On Oct 12, 2014
2cato:
Let it fall and crash like humpty dumpty so that our fed, state and local govt will be force to stop waiting for money from abuja and use their brain to get what they want by investing in agriculture which is the lifeline of any nation.

When the economic effects of an oil price crash (such as unemployment, devalued currency and inflation) start to bite your asssss, you'll be the first to blame govt. Keep praying for what you don't know.

2 Likes

Re: Latest Oil Price: $44 per Barrel - Crisis Looming by birdman(m): 4:29am On Oct 12, 2014
GenBuhari:
My belief is that there is no such virus as Ebola.

Please consider these facts:

Ebola was discovered by a white man in Africa in 1976

in 37 years up until this year a total of 2,500 people have died worldwide (all in Africa)

Influenza which is airborne and has a vaccine is currently responsible for up to 500,000 deaths worldwide per year

Rabies is 100% deadly - which means everybody infected dies rabies has a vaccine yet up to 100,000 die from it each year

But upto 2014, only 2,500 deaths from Ebola since 1976 that is an average of 67 Ebola deaths per year over a 37 year period.

So how deadly is this so called Ebola? clearly not very deadly more people have died from lightening strike in the same 37 year period than have died from the so-called Ebola.

How contagious do they claim the so called Ebola is?
Unlike influenza, Ebola is not airborne,it is only transmitted via bodily fluid so it is only as contagious as hepatitis, which can be easily avoided by avoiding contact with bodily fluids.



So to recap:

Ebola according to the hoaxers themselves kills less people only average of 67 people per year over last 40years, Influenza has killed upto half a million yearly.

Ebola according to the hoaxers themselves is not more contagious than Hepatitis, Influenza is airborne far more contagious

Ebola is survivable in up to 60% of cases, and 100% survivabilty for white Americans- unlilke Rabies that has 0% survivability.

Now we should ask ourselves why no panic and media hysteria over Influenza and Rabies which between them is killing nearly a million people worldwide each year.

You should quickly come to the conclusion that Ebola hysteria is political and not medical and all indications suggest that it does not exist but is merely psychological terrorism, for the purposes of America achieving whatever objective it wishes to use this terrorism for.

My belief is that this time around it wishes to use Ebola to justify using America's IMF and World Bank loans to take over the valuable natural resources of selected countries in West Africa.


The most telling evidence is that even the people of Liberia and Sierra Leone are saying it is a hoax, surely they would know if Ebola is real right, they would see it in their communities , yet it seems mainly medical staff are dying off so easily from a disease no more contagious than hepatitis even though they seem to wear protective clothing from head to foot

ignorance is a disease. Hopefully your namesake has more common sense than you. Liberia is full of idiots who think like this, which is why they are dying en masse from a disease that is very easily isolated.

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Re: Latest Oil Price: $44 per Barrel - Crisis Looming by Nobody: 5:24am On Oct 12, 2014
.

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Re: Latest Oil Price: $44 per Barrel - Crisis Looming by gebest: 10:33am On Oct 12, 2014
optimumprimus:
I don't care what Nigeria has . The United states does not need Nigeria's Oil. the natural resources including oil in Nigeria was discovered,drilled and refined by the United States (Shell). you should be grateful you were given an oil rich economy, and use the billions of dollars worth of royalty for the betterment of your society instead of embezzling and then turn around and blame America .
Nigeria in all ramifications is not a desirable nor appealing place even if you build the biggest skyscrapers .I would not live there even if you give me a vast piece of free land . I would never wish to colonize or settle in Nigeria even for free. I'm not a fan of that climate type .
Texas alone is the size of Nigeria
anyway ,I think you guys are just ignorant. eko atlantic and other quality projects in Nigeria are built by foreign investors and Julius Berg handles the quality constructions . you haven't invented anything in your entire life to make this world a better place nor come up with any progressive ideas to improve the society. all you do is to sit and whine all day about the white man or America . you are very annoying .
u just ended up in making no sense.

1 Like

Re: Latest Oil Price: $44 per Barrel - Crisis Looming by Nobody: 3:30pm On Oct 12, 2014
Oh! The irony!
Ignorance is indeed a disease and is all the more tragic when combined with sheep mentality which prevents independent analytical thinking and causes the rejection of knowledge that is offered.
birdman:


ignorance is a disease. Hopefully your namesake has more common sense than you. Liberia is full of idiots who think like this, which is why they are dying en masse from a disease that is very easily isolated.

2 Likes

Re: Latest Oil Price: $44 per Barrel - Crisis Looming by birdman(m): 3:36pm On Oct 12, 2014
GenBuhari:
Oh! The irony!
Ignorance is indeed a disease and is all the more tragic when combined with sheep mentality which prevents independent analytical thinking and causes the rejection of knowledge that is offered.

Look at this ewu. who is the sheep here? When your line of thinking is so dumb that your enemy doesnt even have to raise a finger to attack you. He just watches you killing yourself like they are doing in Liberia. Thankfully naija peeps are more savvy than that. Quit the internet and conspiracy youtube videos for a while a go read a book abeg. Abeg...

4 Likes

Re: Latest Oil Price: $44 per Barrel - Crisis Looming by Nobody: 3:42pm On Oct 12, 2014
Sheep mentality kills ! you have been warned!
birdman:


Look at this ewu. who is the sheep here? When your line of thinking is so dumb that your enemy doesnt even have to raise a finger to attack you. He just watches you killing yourself like they are doing in Liberia. Thankfully naija peeps are more savvy than that. Quit the internet and conspiracy youtube videos for a while a go read a book abeg. Abeg...

1 Like

Re: Latest Oil Price: $44 per Barrel - Crisis Looming by birdman(m): 4:34pm On Oct 12, 2014
GenBuhari:
Sheep mentality kills ! you have been warned!

at least you dont have any more dumb@ss stories to share

1 Like

Re: Latest Oil Price: $44 per Barrel - Crisis Looming by birdman(m): 4:35pm On Oct 12, 2014
GenBuhari:
Oh! The irony!
Ignorance is indeed a disease and is all the more tragic when combined with sheep mentality which prevents independent analytical thinking and causes the rejection of knowledge that is offered.

grab a book bro. youtube conspiracy videos is not knowledge. come back when you have something original and substantial to say

1 Like

Re: Latest Oil Price: $44 per Barrel - Crisis Looming by Nobody: 6:10pm On Oct 12, 2014
Ebola cannot kill you its a hoax, however sheep mentality may kill you - remember those poor people who ingested too much salt because of panic induced by sheep mentality?
birdman:


at least you dont have any more dumb@ss stories to share

2 Likes 1 Share

Re: Latest Oil Price: $44 per Barrel - Crisis Looming by Nobody: 4:36pm On Oct 13, 2014
Oil price has held steady for last two days now at $85.80 per Barrel.

I will keep monitoring. It could be US wants to test whether or not they need to allow it to fall further maybe until they finish overthrow of Syria in a few weeks time.

Watch this space

1 Like

Re: Latest Oil Price: $44 per Barrel - Crisis Looming by Nobody: 4:44pm On Oct 13, 2014
Watch this space
Re: Latest Oil Price: $44 per Barrel - Crisis Looming by omenka(m): 4:51pm On Oct 13, 2014
I was shocked when I saw the news on Channels this afternoon. Let the decline continue, perhaps our salvation lies in the total crash of international oil prices. At least the dunderheads in Aso Rock and the various state government houses would start thinking like human beings for once.
Re: Latest Oil Price: $44 per Barrel - Crisis Looming by Nobody: 4:54pm On Oct 13, 2014
It was sold for $60 some yrs bk.
Re: Latest Oil Price: $44 per Barrel - Crisis Looming by Nobody: 2:53pm On Oct 14, 2014
Slight fall again to $84.92 per Barrel
Re: Latest Oil Price: $44 per Barrel - Crisis Looming by Nobody: 3:03pm On Oct 14, 2014
[size=18pt] Kuwait Joins Saudi View of No Immediate OPEC Supply Cuts[/size]
By Alaric Nightingale and Mark Shenk Oct 14, 2014 2:39 PM GMT


Two of OPEC’s biggest members say they won’t immediately reduce oil production to offset tumbling prices, a signal the group is unlikely to heed Venezuelan calls for an emergency meeting.

While producing nations would like higher prices, there’s “no room” for them to achieve that by lowering supply, Kuwait’s oil minister told the official Kuwait News Agency yesterday. Saudi Arabia, which pumped almost one-third of the group’s output last month, won’t alter its supplies much between now and the end of the year, a person familiar with its policy said Oct. 3.

“Saudi action is what matters most and we have yet to see anything,” Katherine Spector, a commodities strategist at CIBC World Markets Inc. in New York, said yesterday by phone. “There’s not a lot the Venezuelans can do, either by action or rhetoric, that will change things.”

OPEC’s largest Persian Gulf producers, including Saudi Arabia, Iraq and Iran, are offering the biggest discounts to buyers in Asia since at least 2009 to maintain market share amid a global glut that has sent oil into a bear market. Venezuelan President Nicolas Maduro gave instructions to ask for an extraordinary meeting, the country’s foreign ministry said in a post on its Twitter account on Oct. 10.

Ample supply, helped by surging U.S. and Russian output, pushed Brent crude, the benchmark for more than half the world’s oil, down more than 20 percent from its peak for the year on June 19, meeting a common definition of a bear market. Brent slipped as much as 2.1 percent to $87.03 a barrel today, the lowest intraday price since Dec. 1, 2010.
OPEC Basket

The OPEC crude basket, made up of the group’s main export grades, fell to $85.93 yesterday, near a four-year low.

The Organization of Petroleum Exporting Countries boosted production in September, pumping 30.47 million barrels a day, the most since August 2013, it said Oct. 10 in its latest monthly Oil Market Report. Saudi Arabia told OPEC it increased output 107,000 barrels to 9.704 million. The group’s next meeting is scheduled for Nov. 27 in Vienna.

“If we had a way to preserve the stability of prices or something that would bring it back to previous levels, we would not hesitate in that,” Kuwait’s Oil MinisterAli Al-Omair said in remarks reported by KUNA. “There is no room for countries to reduce their production,” he said, without giving details.

Kuwait hasn’t received an invitation to hold an emergency meeting to consider cutting output, he told KUNA.

Youcef Yousfi, Algeria’s energy minister, said Oct. 12 they are ‘tranquil’’ about prices and hadn’t received any invitation to attend an emergency meeting.
Market Share

“Saudi Arabia doesn’t want to lose market share in Asia,” Olivier Jakob, managing director at Petromatrix GmbH in Zug, Switzerland, said by phone yesterday. “They are increasingly giving signs they won’t do it on their own.”

Crude probably won’t fall below $76 to $77 a barrel because that price level represents the highest cost of production in the U.S. and Russia, Al-Omair of Kuwait said. Both countries have abundant supply and are outside the group.

Russia is concerned about volatility in oil prices and will continue regular consultations with OPEC on ways to steady markets, Deputy Energy Minister Yury Sentyurin told reporters in Abu Dhabi Oct. 12.

The Saudi government may start to face more internal pressure to support oil prices. Saudi billionaire Prince Alwaleed bin Talal Al Saud sent a letter in Arabic dated yesterday to oil minister Ali al-Naimi, saying the kingdom needed to start to worry about the decline in prices.

“There’s not a sense of urgency yet, at least from the actors that matter,” Michael Lynch, president of Strategic Energy & Economic Research in Winchester, Massachusetts, said by phone. “The Saudis could take action immediately if they choose to.”

To contact the reporters on this story: Alaric Nightingale in London at anightingal1@bloomberg.net; Mark Shenk in New York at mshenk1@bloomberg.net

To contact the editors responsible for this story: David Marino at dmarino4@bloomberg.net; Alaric Nightingale at anightingal1@bloomberg.net Charlotte Porter
http://www.bloomberg.com/news/2014-10-13/kuwait-joins-saudi-view-of-no-immediate-opec-supply-cuts.html

1 Like 1 Share

Re: Latest Oil Price: $44 per Barrel - Crisis Looming by Nobody: 3:05pm On Oct 14, 2014
Seems as predictable the Saudis are doing as America asks them to do.

It seems that oil prices will continue to slide for now.

1 Like 1 Share

Re: Latest Oil Price: $44 per Barrel - Crisis Looming by Ilaje44(m): 3:16pm On Oct 14, 2014
omenka:
I was shocked when I saw the news on Channels this afternoon. Let the decline continue, perhaps our salvation lies in the total crash of international oil prices. At least the dunderheads in Aso Rock and the various state government houses would start thinking like human beings for once.

If oil price crashes further, the next thing these idiots would do is to go borrow and put Nigeria in bigger debt trouble. I can bet on it that, that' what your coordinating minister will suggest to the brainless president.

1 Like

Re: Latest Oil Price: $44 per Barrel - Crisis Looming by pazienza(m): 3:43pm On Oct 14, 2014
Reduce the cost of governance now. But would they? No! They are probably looking for how to push it over to the masses, further subsidy removal perhaps. God save us all.

1 Like

Re: Latest Oil Price: $44 per Barrel - Crisis Looming by Nobody: 4:11pm On Oct 14, 2014
Good news from that last report is that oil prices is unlikely to fall below $76 /Barrel

Bad news it that even Nigeria can not function in its current state on less than $80/barrel

1 Like

Re: Latest Oil Price: $44 per Barrel - Crisis Looming by Nobody: 4:25pm On Oct 14, 2014
now $84.36
Re: Latest Oil Price: $44 per Barrel - Crisis Looming by Nobody: 4:27pm On Oct 14, 2014
Jonathan's financial forecast may soon hit the rocks. grin
NOI please take note as well....

1 Like

Re: Latest Oil Price: $44 per Barrel - Crisis Looming by Ryabcool(m): 4:31pm On Oct 14, 2014
optimumprimus:
I don't care what Nigeria has . The United states does not need Nigeria's Oil. the natural resources including oil in Nigeria was discovered,drilled and refined by Shell . you should be grateful you were given an oil rich economy, and use the billions of dollars worth of royalty for the betterment of your society instead of embezzling and then turn around and blame America .
Nigeria in all ramifications is not a desirable nor appealing place even if you build the biggest skyscrapers .I would not live there even if you give me a vast piece of free land . I would never wish to colonize or settle in Nigeria even for free. I'm not a fan of that climate type .
Texas alone is the size of Nigeria
anyway ,I think you guys are just ignorant. eko atlantic and other quality projects in Nigeria are built by foreign investors and Julius Berg handles the quality constructions . you haven't invented anything in your entire life to make this world a better place nor come up with any progressive ideas to improve the society. all you do is to sit and whine all day about the white man or America . you are very annoying .
inasmuch as i find this post really really offensive to me as a person and my dignity as a Nigerian, you wrote nothing but the truth.

I still don't get what the US has to gain from us splitting up. What do we have that they don't already have?

I foresee a tough time ahead for our economy. We have a lot of work to do, and sadly, our leaders do not know this yet. Only 2015 matters to them. sad
Re: Latest Oil Price: $44 per Barrel - Crisis Looming by Ryabcool(m): 4:35pm On Oct 14, 2014
pazienza:
Reduce the cost of governance now. But would they? No! They are probably looking for how to push it over to the masses, further subsidy removal perhaps. God save us all.
Keep voting for this useless government and you'll have no jobs with no food to eat soon enough.
Re: Latest Oil Price: $44 per Barrel - Crisis Looming by Ryabcool(m): 4:39pm On Oct 14, 2014
birdman:


Look at this ewu. who is the sheep here? When your line of thinking is so dumb that your enemy doesnt even have to raise a finger to attack you. He just watches you killing yourself like they are doing in Liberia. Thankfully naija peeps are more savvy than that. Quit the internet and conspiracy youtube videos for a while a go read a book abeg. Abeg...
No fighting. Don't let anyone goad you into derailing this thread.

Do you answer mad men on the streets? Why then should you answer that nutcase?

No fighting. Okay?

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