I was browsing through some videoclips on YouTube earlier today and I came across a very interesting piece that gave me a whole new insight into the general oil price downfall fuss! I mean, I know it's centered around our World Powers Anyway, the US is worthy to be pointed a finger at.

I learnt that on September 11th 2014, US secretary of state; John Kerry, met with Saudi Arabian prince; Prince Abdullah and right after this "meeting", Saudi Arabia, ranked the second world largest oil producing country decides to start producing more oil than it previously was. Now, i wouldn't call this coincidence.
According to Detroit news reporters, the Saudis were also hinting that they are ready for an oil price war. This is typically where the law of supply and demand in economics sets in, where a rise in supply results to a crash in value or demand, exactly what the Saudis are intending to achieve or have achieved by flooding the market with cheaper oil, causing the price of oil all over the world to bow.
But the question is, To what End? What is this conspiracy between the US and Saudi Arabia(a country with a record high human rights issues) set to achieve?
Here it comes- now, while Saudi Arabia; the leader of OPEC, can be able to survive a drop in oil price, other oil producing countries like Venezuela, Russia, Iran etc cannot. Infact if the price of oil remains too low for long, these countries could suffer economic problems as well as oil shortages. Take a look at the above countries, what do they share in common? They are all enemies to the US. This is just the US and Saudi Arabia conspiring and manipulating oil prices and trying to destabilize several rivals or foes who are in opposition to them(US) as the major super power and also to counter Russia's position on Syria.
Our own issue in Naija might not be directly related to the US, like i saw a thread saying our problem was caused by US siezure to continue to buy oil from Nigeria, it might just be a case of Collateral damage.

What do you guys have to say?

Source-
https://www.youtube.com/watch?v=OscgxuWPmgw

Bad news for Nigeria.. Now other sectors will not only be re-energised, but exploited too.

DesChyko:
Bad news for Nigeria.. Now other sectors will not only be re-energised, but exploited too.

That's it bro, the exploitation continues..

Erm.. Op is it true that america who are the no.1 consumer of oil have stop buying and have decided to refine their own?? Because that is what some say which lead to the drop in price.

Maybe jihadists who control Iraqi or Libyan oil wells are dumping as much oil as they can on the market at the cheapest price ever, just to get money and buy guns and food. They don't care about what a normal functioning state would take into consideration.

Also, what is the design capacity production of Saudi??

Can they increase their design capacity?? Yes with modern tech, but by how much did they increase the supply of oil??

khattab02:
Erm.. Op is it true that america who are the no.1 consumer of oil have stop buying and have decided to refine their own?? Because that is what some say which lead to the drop in price.

I seriously doubt that..
Reason is this, in1982 alone, US was operating around 301 refineries refining petroleum products and biofuel for thier unending appetite, but recent records holds that jst about half of that number is in operation as of 2014, roughly about 142. So i dont still understand how they want to be refining their own oil. If it was so, refinery projects wouldv been springing up everywher in the US because it'll even take more than they had in 1982 to refine enof fuel to feed d nation today.

tziz:

I seriously doubt that..
Reason is this, in1982 alone, US was operating around 301 refineries refining petroleum products and biofuel for thier unending appetite, but recent records holds that jst about half of that number is in operation as of 2014, roughly about 142. So i dont still understand how they want to be refining their own oil. If it was so, refinery projects wouldv been springing up everywher in the US because it'll even take more than they had in 1982 to refine enof fuel to feed d nation today.

Alright! Nice point. Thanks for sharing.

panafrican:
Maybe jihadists who control Iraqi or Libyan oil wells are dumping as much oil as they can on the market at the cheapest price ever, just to get money and buy guns and food. They don't care about what a normal functioning state would take into consideration.

Well, we'll never know.

Were the countries you seem to sympathize with dead or sleeping for the past dozens of years when they could have placed their economy on a footing they could control and not let powers beyond their own their own control, dictate their economic lives and destinies?

I do not have to list all the countries affected but I will take aim at Nigeria, the only country that should be of utmost importance to Nigerians. It is only a fhoolish man that allows another man who lives independently with his own family and in his own house dictate the terms under which he must live his own, feed his children, etc. That is, basically, what has happened: Nigeria is suffering because rather than take action based on long term planning, it squandered all it's resources even in the days of surplus and plenty! No power, no healthcare, no quality public education, no infrastructure development to justify even the ~ $ 500 B made under this useless PDP governments and retadaft leaders especially GEJ and yet he has beguiled the fhoolish people to think they have been transformed? Yes, into poverty and generational debt! How can a country amass ~ $ 60 B debt in less than 6 years with higher revenue than budget benchmark , yet there is nothing tangible to show for the billions now spent, missing or looted

khattab02:
Alright! Nice point. Thanks for sharing.

Uw bro.

If we say na US,all this south africans and ghanian dudes go say na,we dey look for who to mount blame on,but all of us know say US,is mainly behind the oil drop.dey like to control everytin,dats y i stopped likin dem

Sloan:
Were the countries you seem to sympathize with dead or sleeping for the past dozens of years when they could have placed their economy on a footing they could control and not let powers beyond their own their own control, dictate their economic lives and destinies?

I do not have to list all the countries affected but I will take aim at Nigeria, the only country that should be of utmost importance to Nigerians. It is only a fhoolish man that allows another man who lives independently with his own family and in his own house dictate the terms under which he must live his own, feed his children, etc. That is, basically, what has happened: Nigeria is suffering because rather than take action based on long term planning, it squandered all it's resources even in the days of surplus and plenty! No power, no healthcare, no quality public education, no infrastructure development to justify even the ~ $ 500 B made under this useless PDP governments and retadaft leaders especially GEJ and yet he has beguiled the fhoolish people to think they have been transformed? Yes, into poverty and generational debt! How can a country amass ~ $ 60 B debt in less than 6 years with higher revenue than budget benchmark , yet there is nothing tangible to show for the billions now spent, missing or looted

You are very correct!
Its obvious that this clueless govt has failed its pple. Am jst wandering wat will happen to naija as the oil price continues to soar, given its over dependence on oil

Sloan:
Were the countries you seem to sympathize with dead or sleeping for the past dozens of years when they could have placed their economy on a footing they could control and not let powers beyond their own their own control, dictate their economic lives and destinies?

I do not have to list all the countries affected but I will take aim at Nigeria, the only country that should be of utmost importance to Nigerians. It is only a fhoolish man that allows another man who lives independently with his own family and in his own house dictate the terms under which he must live his own, feed his children, etc. That is, basically, what has happened: Nigeria is suffering because rather than take action based on long term planning, it squandered all it's resources even in the days of surplus and plenty! No power, no healthcare, no quality public education, no infrastructure development to justify even the ~ $ 500 B made under this useless PDP governments and retadaft leaders especially GEJ and yet he has beguiled the fhoolish people to think they have been transformed? Yes, into poverty and generational debt! How can a country amass ~ $ 60 B debt in less than 6 years with higher revenue than budget benchmark , yet there is nothing tangible to show for the billions now spent, missing or looted

tinubu just bought his fifth private jet worth £60 billion and he is owning property worth over £300million over the world. Dont you think he was able to achieve all these thru the stealing of state and local govt allocation from the fed?
Ameachi you saviour bought a brand new private jet worth $600million and donated over N20billion to buhari campaing group so that they will make him the vice president where do you think all these money came from? State and local govt allocation i guess?
Stop insulting gej for he is a school gurl compare to buhari tinubu saraki and ameachi when it comes to coruption stealing and looting of public fund.

tziz:

You are very correct!
Its obvious that this clueless govt has failed its pple. Am jst wandering wat will happen to naija as the oil price continues to soar, given its over dependence on oil

then will should vote gej out and bring in a bigger evil buhari to send soldiers to opec so as to tackle the falling price of oil and fortified the economy.

Redoil:
tinubu just bought his fifth private jet worth £60 billion and he is owning property worth over £300million over the world. Dont you think he was able to achieve all these thru the stealing of state and local govt allocation from the fed?
Ameachi you saviour bought a brand new private jet worth $600million and donated over N20billion to buhari campaing group so that they will make him the vice president where do you think all these money came from? State and local govt allocation i guess?
Stop insulting gej for he is a school gurl compare to buhari tinubu saraki and ameachi when it comes to coruption stealing and looting of public fund.

You should never be taken serious. Lying without consequences is now the other of the day for TANoids.

Redoil:
then will should vote gej out and bring in a bigger evil buhari to send soldiers to opec so as to tackle the falling price of oil and fortified the economy.

Surprisingly i seriously doubt the credibility of both of dem!
I aint voting for no1..

FastShipping:


You should never be taken serious. Lying without consequences is now the other of the day for TANoids.

you think every body is as blind as a bat durring the day? Prove me wrong with fact or else i will declare you the senior brother of musiwa. Even barcanister and obiagelli cant not disprove me