Hmmm please someone should enlighthen me more on the global effect of President Trump blocking Saudi Oil imports in filling up its Strategic Reserve .If he eventually does that.
I am begining to get really worried .

He basically wants to buy only US oil.

WTI went negative yesterday, no buyer is buying may contracts, this might make some US oil companies in Texas go bankrupt, to save those companies, he has to buy from them.

sexylassie2:
He basically wants to buy only US oil.

Yes and that would affect our supply market too to other countries,because the market would get saturated.Things might go worst if the House of Saud starts watering down the stocks of major companies in the U.S in retailation.

uruba23:

Yes and that would affect our supply market too to other countries,because the market would get saturated.

The market is already saturated, cheap oil everywhere, no buyer, the US wants to save her own local oil companies first before thinking about outsiders

sexylassie2:


The market is already saturated, cheap oil everywhere, the US wants to save her own local oil companies first.

The U.S is a global economy they can't be play this local content game.

uruba23:

The U.S is a global economy they can't be play this local content game.

You think so, every countries have closed their borders, people are losing their jobs, so you think, the US won't save its own people first before thinking about outsiders.

sexylassie2:


You think so, every countries have closed their borders, people are losing their jobs, so you think, the US won't save its own people first before thinking about outsiders.

I know they should but not with a Strategic Partner like the Sauds,who buys Billion of dollars of military weapons they don't need from them...They can do that to the Chinese who brought this plague on us,but cheap labor won't let them look in that direction.

uruba23:

I know they should but not with a Strategic Partner like the Sauds,who buys Billion of dollars of military weapons they don't need from them...They can do that to the Chinese who brought this plague on us,but cheap labor won't let them look in that direction.

No country think about strategic partner when they have internal crisis, the Saudis will have to find other buyers like the Chinese to sell to.

sexylassie2:


No country think about strategic partner when they have internal crisis, the Saudis will have to find other buyers like the Chinese to sell to.

Hmmm i like that statement No country think about strategic partner when they have internal crisis.
Wisdom.I just hope our leaders get us out of this mono economy... The Sauds still have 30℅ of the U.S economy irrespective of President Trump measures they still get paid ....the way South Africa Multichoice and Mtn are still chopping our money irrespective of Convid 19.

uruba23:

Hmmm i like that statement No country think about strategic partner when they have internal crisis.
Wisdom.I just hope our leaders get us out of this mono economy... The Sauds still have 30℅ of the U.S economy irrespective of President Trump measures they still get paid ....the way South Africa Multichoice and Mtn are still chopping our money irrespective of Convid 19.

It will be hard for govt to take us away from depending on oil, the people also have to direct govt, the people need to create new industries that brings in cash more than oil, then govt will take that industry seriously.

sexylassie2:


It will be hard for govt to take us away from depending on oil, the people also have to direct govt, the people need to create new industries that brings in cash more than oil, then govt will take that industry seriously.

I quite agree with you,but you know government play lip service to creativity and innovation...many of the examples are in the public space.Most times what happens is that Nigeria invest so much in grooming those minds when it is time to reap the benefits they get tired and the mind ports to other developed countries.

uruba23:

I quite agree with you,but you know government play lip service to creativity and innovation...many of the examples are in the public space.Most times what happens is that Nigeria invest so much in grooming those minds when it is time to reap the benefits they get tired and the mind ports to other developed countries.

I think private sector can make things happen, imagine if they all come together to sponsor talents in another sector,in the next 10 years that sector will be the new oil money.

sexylassie2:



I think private sector can make things happen, imagine if they all come together to sponsor talents in another sector,in the next 10 years that sector will be the new oil money.

May be the Nigerian own Private sectors but the foreign ones are here to make money and repratiate...but even at that the government need to create some sort of tax break in that respect so it is a win win situation. Let say a Dangote Industries want to invest in Prof Susu Refining Catalyst.. A $50 million investment that would safe the country importing $70million worth of refining catalyst because the company is taking a risk a $5 million tax break can be given over 15 years.