There may be reasons why we must not overlook that Gen. Muhammadu Buhari's jibe on Channels TV interview...

In an interview with Channels TV, on Sunday, December 7, 2014, Gen. Muhammadu Buhari of the All Progressives Congress (APC) said he “will stabilize the oil market” if elected president. This statement roused individuals to question the economic intelligence of the former Head of State; how he intends to singlehandedly stabilize the dwindling oil price or if he spoke in ignorance. Despite the wide negative reactions and against major notions, I discovered that Gen. Buhari’s statement may not really stem from economic cluelessness as some Nigerians have envisaged. There may be a hidden agendum as individuals can influence the global oil price.

In 1973, Egyptian President, Anwar Sadat, convinced Saudi Arabia’s King Faisal bin Abdulaziz Al Saud to cut production and raise prices, then to go as far as embargoing oil exports, all with the goal of punishing the United States for supporting Israel against the Arab states. It worked; and the “oil price shock” quadrupled prices. This happened again in 1986, when Saudi Arabia allowed prices to drop precipitously, and then in 1990, when the Saudis sent price plummeting as a way of taking out Russia, which was seen as a threat to their oil supremacy.

The current oil price crash appears to be a ploy by the Saudis and the United States to punish Russia and Iran for supporting Bashar Assad’s presidential regime in the Syrian war. Saudi Arabia’s refusal to cut OPEC production in the face of the oil-supply glut this year hit hard Russia, Iran, Venezuela, and indirectly Nigeria. The Saudis have a clear political reason for refusing to cut production. And the oil price will stay pretty low as long as Saudi decides not to cut production. They have deep pockets and can handle the consequences for a while. If it inflicts damage on Russia, Iran, Nigeria, and Venezuela… then it is okay for the Saudis.

Buhari enjoys good relationships with both the Saudis and the same US government that wants Goodluck Jonathan ousted. Hence, he must have been banking on the support of the Saudis and the US when he boldly asserted that he will stabilize oil market. Reportedly said to be receiving supports from the US and Saudi ahead of the March 28 presidential election, it is possible that Gen. Buhari and the APC may have a hand in the timely arrangement of this oil price fall. Whilst it is obvious that the Saudis and the US are working together to hurt Russia and Iran, one cannot say for certain if the timing was strategically targeted at the Nigerian elections for the discredit of the present government.

Purposely causing the oil price to crash is one of the most deflationary things that one could possibly do. The global financial system is already extremely vulnerable. Those playing politics with the oil price are playing with fire. By the end of this year, the entire planet could be dealing with the consequences. If Gen. Buhari is serious about service to Nigeria, he mustn’t wait until he is elected president before intervening to seek for solutions. The Saudis play a key role here. If they want to see this through for the next few years, it will - and vice versa. It won’t be a surprise if the oil market is stabilized shortly after Nigeria’s presidential election.

Since Buhari clearly stated that he will stabilize the oil market, there may be something he can do to help put the price in order. But waiting until he is elected president means he is more concerned about personal glory than the well-being of Nigerians. One thing is certain; with or without Buhari, the global oil market will be stabilized on the long run, and the value of our currency will appreciate.

REFERENCES:

www.ibtimes.com/saudi-arabias-oil-pricing-power-makes-it-country-watch-2015-1765920

www.oilprice.com/Energy/Oil-Prices/Did-The-Saudis-And-The-US-Collude-In-Dropping-Oil-Prices.html

www.globalresearch.ca/who-is-behind-the-oil-war-and-how-low-will-the-price-of-crude-go-in-2015/5422544

Buhari should go back to JSS 2 and study mathematics properly before coming on air to rant about oil prices.

Hmmmm

@ OP if ithe quote is anything to go by, then Nigerians have no reason to support APC for this election.

Reportedly said to be receiving supports from the US and Saudi ahead of the March 28 presidential election, it is possible that Gen. Buhari and the APC may have a hand in the timely arrangement of this oil price fall. Whilst it is obvious that the Saudis and the US are working together to hurt Russia and Iran, one cannot say for certain if the timing was strategically targeted at the Nigerian elections for the discredit of the present government.

Whoever plays politics with our economy is simply a power hunter and not service provider. It means he isn't driven by patriotism but to deploy every means available to hoodwink the masses to give them power. This is unpatriotic and unacceptable to even the insane, not to talk of the sane.

But let me assume this is not the case and give them the benefit of doubt. Meanwhile, with the calibre of people and their antecedents chanting Change, we need no prophet to tell us that change can't come through undemocratic individuals. We can change within the Jonathan led-PDP. We can't move from warm water to hell fire because we need "change".

[s]

barcanista:
@ OP if ithe quote is anything to go by, then Nigerians have no reason to support APC for this election.
Whoever plays politics with our economy is simply a power hunter and not service provider. It means he isn't driven by patriotism but to deploy every means available to hoodwink the masses to give them power. This is unpatriotic and unacceptable to even the insane, not to talk of the sane.

But let me assume this is not the case and give them the benefit of doubt. Meanwhile, with the calibre of people and their antecedents chanting Change, we need no prophet to tell us that change can't come through undemocratic individuals. We can change within the Jonathan led-PDP. We can't move from warm water to hell fire because we need "change".

[/s]

What is this? You're sounding too robotic nowadays.
Just like tit and temitemi always shouting GEJ till 2019.

@OP, the conjecture here lacks conventional wisdom especially when you bring Nigeria and Buhari into the picture. It may sound plausible that USA and Saudi have a hand to get at Russia and Iran but you need to do more to convince us how Nigeria must slso become a target of same USA and KSA.

,

PassingShot:
[s][/s]

What is this? You're sounding too robotic nowadays.
Just like tit and temitemi always shouting GEJ till 2019.

My Lord, "Argumentum ad' Baculum !!

Descartes:
,My Lord, "Argumentum ad' Baculum !!

Not at all. The post was a mumbo jumbo really.

PassingShot:


Not at all. The post was a mumbo jumbo really.

But from your "smartly" submission, you subtly attacked him.

PassingShot:
[s][/s]

What is this? You're sounding too robotic nowadays.
Just like tit and temitemi always shouting GEJ till 2019.

I thought you should attack the issue and not the person...

Cc: Seun
Lalasticlala
GenBuhari
Ishiamu
Ozoigbondu
ShowYourCertificate
Temitemi1
Berem
Obiageli
Afam4eva
OAM4J
Ikenna351
maclatunji
Ngwakwe
Ceo4eva
doctokwus
Trailblazer1
Barcanista
OREMUSSANCTUS

Let's know what the people think...

Descartes:
But from your "smartly" submission, you subtly attacked him.

You can also see that he didn't even believe the OP. So, why using a weak argument to sound patriotic when we already know what he stands for?

It's gonna be like magic, he'll lose again!

#mysignature#

PassingShot:


You can also see that he didn't even believe the OP. So, why using a weak argument to sound patriotic when we already know what he stands for?

You may be right though.

Descartes:
You may be right though.

Read my comment again....

Is buhari an OPEC GEJ till 2019!!!

Yes he can! [size=4pt]according to Gbawe[/size]

Stabilising oil market is what Buhari said he would try and do.
He never said International oil prices.

He was probably talking about our internal oil market

quid:
Buhari should go back to JSS 2 and study mathematics properly before coming on air to rant about oil prices.

GenBuhari:
Stabilising oil market is what Buhari said he would try and do.
He never said International oil prices.

He was probably talking about our internal oil market

Akuko ifo

Babare:


I thought you should attack the issue and not the person...

Cc: Seun
Lalasticlala
GenBuhari
Ishiamu
Ozoigbondu
ShowYourCertificate
Temitemi1
Berem
Obiageli
Afam4eva
OAM4J
Ikenna351
maclatunji
Ngwakwe
Ceo4eva
doctokwus
Trailblazer1
Barcanista
OREMUSSANCTUS

Let's know what the people think...

Is he a stabiliser

ishiamu:


Is he a stabiliser

Lol... Maybe oooo.....