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Nairaland Forum / Nairaland / General / Politics / Crude Oil Will Soon Sell For $50 Per Barrel – Kachikwu (22901 Views)
FG Warns Niger Delta Youths - Oil Will Dry, Prepare For The Future / Crude Oil Hits $50 Per Barrel. Nigeria not Benefitting / What Okonjo-Iweala Said When Oil Was $76 Per Barrel (Flash Back) (2) (3) (4)
Re: Crude Oil Will Soon Sell For $50 Per Barrel – Kachikwu by LordAdam: 10:00pm On Feb 29, 2016 |
ddippset: I believe we have spent the better part of 7 months blaming people that embezzled money. That is a stale story and apparently it was the reason why Buhari was elected. The dearth of current economic recession is 70% caused by Buhari's inaction. His continued inaction will be the reason why we would fall to the abyss if June 2016 does not pose good news for global oil price. I'm optimistic, but the truth must be said. Let Buhari start making hay when the sun shines. Nigerians are slowly losing all confidence in him. Rather than gamble completely with the June OPEC meeting, he should set measures in place to protect the Nigerian economy in case things go south. You cannot blame GEJ for not planning well in advance for bullish periods (even though it wasn't entirely his fault), and then absolve Buhari for again failing to plan well in advance of what may be a worse bullish period. The same way people blame GEJ for not saving enough, people will blame Buhari for not doing enough to stem an economic recession when he could. Again, I am not a prophet of doom, and I think there is a 75% chance OPEC will make a production cut deal on or before June 2016. However, we must also make provisions should the worst happen. -Lord |
Re: Crude Oil Will Soon Sell For $50 Per Barrel – Kachikwu by WATCHOVER(m): 10:02pm On Feb 29, 2016 |
I thought gods' Buhari's followers said they can live without oil. ;DI thought gods' Buhari's followers said they can live without oil. |
Re: Crude Oil Will Soon Sell For $50 Per Barrel – Kachikwu by omohayek: 10:07pm On Feb 29, 2016 |
Kachikwu is talking nonsense. If Saudi Arabia and Russia freeze their production at current levels, that would still be 1 million barrels/day in excess of demand, and as Iran has already made clear that they intend to regain all of the market share they lost due to sanctions, that means the production excess is about to get worse rather than better. http://www.eia.gov/todayinenergy/detail.cfm?id=24592 The entire point behind Saudi Arabia's provocation of a price war was to send the American shale oil producers into bankruptcy, and that is only just starting to happen. Unfortunately for Buhari and Kachikwu, the shale oil producers who aren't going bankrupt are rapidly improving their operating efficiency, which means even $40/barrel might be enough to keep a lot of them in business. It's time for this administration to stop dreaming about a magical rise in oil prices, and start thinking hard about how to grow the economy without an oil bonanza to fall back on. 2 Likes |
Re: Crude Oil Will Soon Sell For $50 Per Barrel – Kachikwu by ttmacoy: 10:08pm On Feb 29, 2016 |
They are already exporting oil to Europe and other areas. http://dailycaller.com/2016/01/03/first-crude-oil-shipment-exports-from-u-s-after-40-year-ban-lifted/ Shale operators are claiming that with the latest operational efficiency they can be profitable at $40 a barrel and will crank up operations should oil price rise above $40. Ofodirinwa: |
Re: Crude Oil Will Soon Sell For $50 Per Barrel – Kachikwu by nastyesco(m): 10:11pm On Feb 29, 2016 |
Ofodirinwa:Abother dumb one...so because u don't stay in Nigeria means it doesn't concern u...if u re not bothered pls stay away from commenting...some of us are...cos East or West there is no place else for our chickens to come home to roost 1 Like |
Re: Crude Oil Will Soon Sell For $50 Per Barrel – Kachikwu by Nobody: 10:12pm On Feb 29, 2016 |
Say that when it's $50 per barrel, not before. APC ministers are talkatives. |
Re: Crude Oil Will Soon Sell For $50 Per Barrel – Kachikwu by Smooyis(m): 10:14pm On Feb 29, 2016 |
Politics of name calling. Zombies vs Wailers. Una neva jam. |
Re: Crude Oil Will Soon Sell For $50 Per Barrel – Kachikwu by M4gunners: 10:17pm On Feb 29, 2016 |
I can see some people jubilatin.The same people that said earlier they can do without oil.Hahaha ungrateful elements. God bless my ND. |
Re: Crude Oil Will Soon Sell For $50 Per Barrel – Kachikwu by Nobody: 10:35pm On Feb 29, 2016 |
Ofodirinwa: Firstly, Ibe Kachikwu is not a slow poke, the man is a genius, show him that respect. Then, your analysis is incorrect, US doesn't and will never have more oil than the east or the gulf, many things culminated to the crash in oil price, you didn't even mention Iran's sanctions being lifted, and lastly oil would still rise, it's expected. If not now in the near future, because the world hasn't and isn't very likely to discover an energy resource that would substitute for oil very soon. We've seen oil crisis in the past which the world has gotten thru, Nigeria is simply suffering for not saving for the rainy day. 2 Likes |
Re: Crude Oil Will Soon Sell For $50 Per Barrel – Kachikwu by blackboy2star(m): 10:37pm On Feb 29, 2016 |
CHANGE!!! |
Re: Crude Oil Will Soon Sell For $50 Per Barrel – Kachikwu by opribo(m): 10:47pm On Feb 29, 2016 |
The man is still living in limbo, maybe the $50 per barrel is the hope Coza pastor gave him instead of him to face current reality he is here hoping that soon it will get better. Nigerians must begin to demand some ministers resignation especially those who show lack of understanding of the present challenge and ways to move us forward. i |
Re: Crude Oil Will Soon Sell For $50 Per Barrel – Kachikwu by Nobody: 10:53pm On Feb 29, 2016 |
g |
Re: Crude Oil Will Soon Sell For $50 Per Barrel – Kachikwu by Ekugbeh(m): 11:03pm On Feb 29, 2016 |
Ofodirinwa:c ur head |
Re: Crude Oil Will Soon Sell For $50 Per Barrel – Kachikwu by banmee(m): 11:21pm On Feb 29, 2016 |
Adaowerri111: Turning around how? You people haven't learnt your lesson. Depending on oil is a cancer to Nigeria's development. Eventually, you guys will get it. 1 Like |
Re: Crude Oil Will Soon Sell For $50 Per Barrel – Kachikwu by Mike008(m): 11:34pm On Feb 29, 2016 |
Akkord4gov: The Kind of Good governance you talk about already prevails in Buhari. Oil price will not affect his disposition. |
Re: Crude Oil Will Soon Sell For $50 Per Barrel – Kachikwu by Panzerfaust(m): 11:34pm On Feb 29, 2016 |
Frankiss44:when wailers like you are pushed to the wall, they begin to bark. |
Re: Crude Oil Will Soon Sell For $50 Per Barrel – Kachikwu by Mike008(m): 11:40pm On Feb 29, 2016 |
banmee: You're living in the past. Have you not heard about the mantra of diversification of the economy? That oil is Nigeria's economic power doesnt mean we should cover all oil wells when diversifying. Its like a boarding student throwing all his garry away just because he's been given born vita, Milk, cornflakes etc. |
Re: Crude Oil Will Soon Sell For $50 Per Barrel – Kachikwu by Mike008(m): 11:42pm On Feb 29, 2016 |
opribo: I'll nominate you as minister if I get the chance. You seem to know better. |
Re: Crude Oil Will Soon Sell For $50 Per Barrel – Kachikwu by Standing5(m): 11:45pm On Feb 29, 2016 |
sdindan:the case of 23,000 ghost workers is 99.9% a PDP problem. |
Re: Crude Oil Will Soon Sell For $50 Per Barrel – Kachikwu by caselessogbuagu: 11:53pm On Feb 29, 2016 |
Ofodirinwa:mumu post! So US get oil pass Saudi and Russia put together? Chai! |
Re: Crude Oil Will Soon Sell For $50 Per Barrel – Kachikwu by banmee(m): 11:56pm On Feb 29, 2016 |
Mike008: Look at who's talking about living in the past. Do you know what diversification means? Nigeria is 100 percent dependent on oil and he's talking about diversification. Lol. |
Re: Crude Oil Will Soon Sell For $50 Per Barrel – Kachikwu by Mike008(m): 12:00am On Mar 01, 2016 |
banmee: Read my comment again, and this time try to understand it. |
Re: Crude Oil Will Soon Sell For $50 Per Barrel – Kachikwu by duality(m): 12:08am On Mar 01, 2016 |
Even those who prayed that the oil should dry up. are praying that the price of oil increases because of buhari. |
Re: Crude Oil Will Soon Sell For $50 Per Barrel – Kachikwu by DonSegmond(m): 12:11am On Mar 01, 2016 |
ode, the world is aggressively working towards electric cars and alternate energy and people are still worried about future price of oil? |
Re: Crude Oil Will Soon Sell For $50 Per Barrel – Kachikwu by Kingspin(m): 12:22am On Mar 01, 2016 |
Who cares? At the end of the day it only our politicians that will be happy for it. Pls, just go ahead and develop the country thats what am after. |
Re: Crude Oil Will Soon Sell For $50 Per Barrel – Kachikwu by billyG(m): 12:56am On Mar 01, 2016 |
ijustdey:If that happen then PMB has stabilise world oil price as promise 1 Like |
Re: Crude Oil Will Soon Sell For $50 Per Barrel – Kachikwu by billyG(m): 1:01am On Mar 01, 2016 |
Ofodirinwa:An ignoramus like u shld know it is not only US that buys crude oil. |
Re: Crude Oil Will Soon Sell For $50 Per Barrel – Kachikwu by banmee(m): 2:06am On Mar 01, 2016 |
Mike008: Funny guy. You don't even understand what you wrote. |
Re: Crude Oil Will Soon Sell For $50 Per Barrel – Kachikwu by Rhea(f): 2:30am On Mar 01, 2016 |
ijustdey: Story! As Saudi Arabia and Russia are turning off the taps, Iran is ramping up theirs. For as long as Iran continues to produce (which they will in order to reclaim their pre-sanctions supply quota), crude will remain less than $30. We may even see $25. |
Re: Crude Oil Will Soon Sell For $50 Per Barrel – Kachikwu by Frankiss44(m): 4:00am On Mar 01, 2016 |
Panzerfaust: At least a wailer can be pushed to the wall because they have brains... Sadly we can't say the same for a zombie that has been brainwashed to think in one direction |
Re: Crude Oil Will Soon Sell For $50 Per Barrel – Kachikwu by olalat(m): 4:23am On Mar 01, 2016 |
He should act and do what exactly? Print dollar or naira? Buhari is on d right track. Lets all brace up 4 d challenges ahead. LordAdam: |
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