₦airaland Forum

Safari29:
Also from kenya

Asukwo from Kenya?

With 0802....



Anyway thank goodness it is not Buhari in power we all know that man would have been thrown in jail awaiting his beheading.

Full house.
GEJ carry go.

Till Buhari learns how to speak in public.

This is so sad.

How can someone as incoherent as this even bother to vie for any political post?

What kind of mass hypnosis had led people to choose this man as a candidate for a party?

Just picture this man addressing the UN assembly.



I am so glad the enlightened people of Imo state came out to see his failure.

Anyone who was nursing doubts will have made up his mind after this.

lilprinze:
This country is a big joke.

Your comment has no relationship with the topic.

Oya Buhari over to you, start stabilising the oil price.

This man has a horrendous speech impediment and a wavering memory.

He is a security threat to the position of presidency.

Is this who they chose?

Abugab:
So the shameless military could come out and say its only 150 people that were killed in Baga instead of the reported 2000? A few people were attacked in France a couple of days ago and the whole world saw how their security operatives went into action and yet pdp and the govt are busy accusing the opposition instead of doing their work. Failed military, failed police, failed govt, failed president...,Nonsense

The French unlike Nigerians including you unified to condemn terror irrespective of race, religion or political affiliation.

They did not rush to condemn the government despite the fact that they had every reason to, given the fact that the perpetrators were on the terror watch list and were not being followed up.

They understand that the best way to combat terror was genuinely rebuffing it at the grassroots.


In Nigeria what happens is the opposite, when a bomb goes off, you see the opposition in a sickening joyous mood as if to say they have scored a point. They do not come out to strongly condemn the Boko Haram but rather carry placards to condemn the government. It even makes it seem that they are behind the attacks.
We need to refocus our energy on condemning and uniting against Boko Haram.

Abike why swim in the murky waters of APC lies?

$1 billion dollars in 1983

omanzo02:
Despite APC winning some terrain PDP still remains the party to beat, they have the grassroots machinery and followership to convincingly win election...........the assumption that PDP is broken and fallen apart is still mighty enough to take APC to the cleaner.......one thing is obvious APC is underestimating their opponents and I am waiting to laugh at the surprise look on their face when results are announced......GEJ knows goodwill helped him in 2011 and is also aware strategies, deep electioneering and master strokes are his best bet this time around and don't think these people are sleeping.......this reminds me of almighty Beef against Gbawe, Alhaji Harem, Jarus and co online in 2011, the opposition haven't learned much as I can see, same old strategy.......February will surprise some people

This is not new

APC multi moniker members are always busy on their computer screens while the serious ones are on the field.

It happened in Anambra polls.

OP most peeps shouting Kai Buhari are black berry toting teenagers who know nothing about the history of Buhari who has one of the worst human rights and economic records in Nigerian history.

He ruled this nation a generation ago and if he forgot anything in Dodan barracks (perhaps his phantom certificate) he should go there and collect it and leave Aso rock alone.

But he fed on PTF funds.

Tell me another story.

Isn't that rather obvious.

With the insecurity they have created

Cutting off one's nose to spite the face.

Ronaldo wins!
Very well deserved.

Meanwhile Thierry Henry should show Lionel Messi his taylor.

This will not stop Buhari from losing as usual.

PassingShot:
99% of Jonathanians are deaf and dumb!

Let me attempt to help their ignorance:

Each of the 5,000 farmers involved contributes a thousand yam tubers to the project which gives you 5,000,000 millions tubers. Because it is a fund raiser, a yam tuber is priced at 1,000 Naira and those who attend the event buy accordingly. A buyer could buy 5 tubers for 5,000 instead of the normal market price of around 2000 naira for same.

At the end of the day, they are selling tubers probably not worth more than 1 billion naira for 5 billion naira to support the cause.

So, how does this align with your cheap propaganda?

During Buhari's regime they could not produce enough to contribute 100 tubers no to talk of a thousand.
Thanks to the leap in the agric sector they now can.

Buhari will soon counter it by telling us he will stabilize global yam prices.

All because of Buhari's desperation.

anonimi:
Do you know the difference between these two words:

- Functional

and

- Decorative i.e. for show/photo only

He apparently doesn't.

I am not surprised.

The unschooled man was busy playing around with a very touchy subject like the civil war on live TV.

Just see what a prospective president said..

How will you tackle insurgency?

Buhari :Hmmmmmmmm...............
Gowon did not borrow a kwobo for 30 months of the civil war.
How come they are asking for 1 billion to fight insurgency?

He actually ended up equating Biafra with Boko Haram.

aresa:
I'm 100% sure you can not and won't show us anything similar from your village...

Then why did the heritage mall burn down?

It was not a one minute affair but something that happened over time.

Chiefpriest1:
Hope it won't spread and destroy anything. Not likely though.

As for the firemen, I am sure they are already snoring in their houses or even if awake,they would complain that there's no water.

APC states do not have functional fire service.

Don't forget what happened in Ibadan.

Leadership newspaper abi?

APC sorry this is dead on arrival.

Next story will be PDP senator denies denying Jonathan.

Very innovative.

Buhari will probably ban Valentine's day if he wins

Buhari will still lose so this has no meaning.

They are just exposing themselves to the harmattan haze for nothing

Meanwhile

Is there a curfew on the women folk?

Or is APC an anti female party?

I hope they know this is 2015

Why is APC so violent?

How many hours does it take for a building to burn down to this extent?

And yet no iota of meaningful activity by the fire service.

Is there no provision in a mall for sprinklers or smoke alarms that could have helped.

APC has consistently demonstrated its inefficiency in governance and disaster control.

I hope they have insurance

bokohalal:
And Nigeria sent an official to the French[b] unity March[/b] after Paris suffered a three day terror attack.
Over 200 girls are still missing. If you march in Abuja you are ridiculed by the President's supporters.
I am glad that Nigerians have decided to reject this non -chalance to the country's security, gross incompetence in leadership and wanton corruption.
Buhari is an obvious better manager of people and resources.

You have clearly shown that you have absolutely no understanding of what the unity match was about.

All of France united to speak against terror irrespective of religion, race or political affiliation.


It was not a rag tag coven of blood sucking Apeshits carrying placards to demand for government to perform abracadabra and stop bombings and kidnappings while secretly urging on Boko Haram just to discredit the government.

That piece of brown paper has no meaning

Impressive and based on genuine strides made to better his state.

Not that fake poll about Amaechi

OK Buhari suddenly becomes sympathetic

How many years did it take you to speak up against Boko Haram?


We are not deceived.

Orikinla:
[size=18pt]How does OPEC stabilize the market price of oil?

Runner21
It stabilizes the market price of oil by makings sure that it goes through when it convinces some one to buy it

OPEC : Oil market stability: the role of OPEC

A Speech by Dr. Edmund M. Daukoru, President of the OPEC Conference, Minister of State for Petroleum Resources, Nigeria, to the 28th Oxford Energy Seminar, Oxford, England, 8 September 2006

[Slide 1]
Excellencies, ladies and gentlemen,

Thank you for inviting me to Oxford to deliver this address on oil market stability and the role of OPEC.

Over the past three decades, the Oxford Energy Seminar has carved a niche for itself in the international energy community as a venue for high-level debate, in camera, on topical issues affecting the industry. Without exception, debate at this renowned seminar is fuelled by contributions from politicians, industrialists, academics and other experts of the highest standing and with vast reserves of knowledge and experience, and so I feel especially privileged to be invited to address such an accomplished gathering today.

Indeed, when we look at the present situation in the international oil market — with the high level of price volatility that has characterised it over the past two and a half years — then clearly such fora as this come into their element!

[Slide 2] On several occasions during this period, crude oil prices have reached record highs, and I am sure some seasoned market-watchers in this room are themselves wondering where and when prices will peak, or whether they have done so already.

Our predecessors had similar difficulties with crystal ball-gazing! A quarter of a century ago, some acclaimed international analysts were predicting crude oil prices of US $100 a barrel by the year 2000. Instead, prices collapsed below $10/b in the mid-1980s, less than half a decade later. Similar lows occurred a decade after that, in the wake of the economic downturn in south-east Asia. Even today’s record levels are well below three-quarters of the way towards the predicted $100/b mark!

We are, of course, referring to nominal prices here. In real terms, taking into account inflation and currency fluctuations, prices are still below levels reached in the early 1980s. It is important to be aware of this.

However, while record oil prices may capture the imagination of the public at large, it is, arguably, volatility that is of most concern to the industry.

If the goalposts are constantly shifting — not just from side to side, but also backwards and forwards, and perhaps even up and down! — then it becomes really difficult to both play the game today and to make rational decisions for tomorrow.

As is well known, the volatility, that still afflicts us today, was first widely perceived in the spring of 2004, and this followed several years of relatively high stability, very much encouraged by OPEC’s production agreements of the time.

[Slide 3] The initial reaction was that something strange is happening to the market. Is this just a temporary blip, and, if so, how temporary and how extensive? Or are more fundamental factors at play? If so, what are they and how deep-rooted are they? How long will it take the market to accommodate the new fundamentals and return to a workable equilibrium? At what price level and at what supply and demand level will this workable equilibrium be?

[Slide 4] How should producers — those that have the capability to increase production capacity — react to the new dynamics, in an industry where the upfront investment is large and the lead-times are long? Should they hold their breath a little longer to see how the situation transpires, should they take, so to speak, lightweight actions to tackle a short-term development, or should they adopt rather different measures to handle a more fundamental, longer-term phenomenon? In pondering thus, we must remember that these producers face a huge burden of risk in investing heavily in capacity that may not be needed.

Such issues as these faced OPEC’s Oil Ministers when they met in Vienna on 31 March 2004. To add irony to the situation, this was happening at a time when the market appeared to be well-supplied with crude and the market was moving into the traditional lower-demand season of the year.

Furthermore, we must be cautious here in Oxford today about making judgements with the benefit of hindsight. Our closing press release in March 2004 stated that the “high oil price levels remain predominantly a consequence of long positions of market speculators in the futures markets coupled with a tightening in the US gasoline market in some regions, and exacerbated by uncertainties arising from prevailing geopolitical concerns rather than purely a reflection of supply/demand fundamentals.” It added that “structural problems and bottlenecks (were) affecting the downstream oil industry, which have been contributing to recent price movements.”

We can see here that there have been some shifts in emphasis in analysis carried out since that time about the causes of the volatility in early 2004. For example, more weight has since been placed on the impact of tightness in the downstream sector in consuming countries, which has been very much due to a lack of timely investment and increasingly stringent product regulations. Interestingly, it has emerged that, during the past two and a half years, downstream price volatility has been having a “pull” effect on upstream price volatility, rather than the more usual reciprocal “push” effect of the upstream on the downstream, as one would expect from classical economic analysis.

[Slide 5] Also, subsequent analysis has highlighted the big effect of the unexpectedly high levels of oil demand from the rapidly growing emerging economies in Asia, especially China and India, as well as from the North America. In 2004, global oil demand surged by 3.0 million barrels a day, a level of demand growth not seen since the 1970s.

[Slide 6] Furthermore, the volatility facing the oil industry in spring 2004 had analysts contemplating on its possible impact on the global economy as a whole, due to oil’s leading role in the world energy mix. There was the obvious tendency to compare the rapidly developing situation with that of the 1970s. Subsequent analysis, however, has exposed major differences to three decades ago, with a greatly reduced impact on world economic growth and oil demand. Reasons include much lower oil intensities in consuming countries, higher taxation levels, greater efficiency, a more diverse energy mix and the fact that the transportation sector, with its low price elasticity, now has a much larger share of the international oil market. Fundamentally, the present situation is essentially demand-driven, resulting from the strong economic growth, rather than supply-driven, as was the case in the 1970s.

All of this emphatically underlines the benefit of stability to the oil market and further afield across the global economy, covering all foreseeable time-horizons. Stability begets stability. If stability could be achieved and sustained in its purest, most universal form, then it would clearly be a “win-win” situation for all the responsible parties in the oil industry. But stability must be worked on by those parties for the short, the medium and the long terms.

In addition to this, stability provides another very important benefit to OPEC Member States and other oil-producing countries, particularly those from the developing world, where petroleum export revenue can account for a very large proportion of total export revenue — about 73 per cent, on average, for OPEC in 2005. The revenue oil-producing developing countries receive from oil sales is essential for financing their economic and social development programmes, to an extent that may not be fully appreciated by industrialised nations. This is in addition to the part that must be reinvested in the upstream to meet rising demand. It is, therefore, in the best interests of these producing countries to ensure that every possible measure is taken to support market stability at all times, so that the optimal benefit can be derived from their finite oil resources and shared among present and future generations.

[Slide 7] This explains why OPEC is so committed to achieving and maintaining market stability, a commitment that goes back to its inaugural meeting in Baghdad in September 1960. OPEC’s very first resolution stated that “Members shall study and formulate a system to ensure the stabilization of prices.” [Slide 8] Several months later, this commitment was enshrined in the OPEC Statute, when it was first adopted in January 1961, and it has remained a key guiding principle of the Organization ever since: “The Organization shall devise ways and means of ensuring the stabilisation of prices in international oil markets, with a view to eliminating harmful and unnecessary fluctuations.”

It has been reaffirmed repeatedly in OPEC documentation over the years, notably in OPEC’s two Solemn Declarations, which concluded summits of Member Countries’ Heads of State and Government in 1975 and 2000, and, most recently, the Long-Term Strategy (LTS) OPEC adopted exactly one year ago. Indeed, the LTS is unequivocal in its views about oil price volatility, saying that this “renders all the more difficult the interpretation of price signals, whether they are an indication of structural change or a reflection of temporary phenomena, and thereby affecting the ability to support longer-term market stability.”

The LTS also emphasises the importance of fair prices, the security of regular supply to consumers and the security of world oil demand. This again elaborates upon the OPEC Statute: “Due regard shall be given at all times to the interests of the producing nations and to the necessity of securing: a steady income to the producing countries; an efficient, economic and regular supply of petroleum to consuming nations; and a fair return on their capital to those investing in the petroleum industry.”

[Slide 9] It also brings us onto the important issue of energy security, which is closely linked to market stability and has gained greater prominence on the international political agenda over the past year or so, in the wake of the recent market volatility. Energy security provided the central theme of the Tenth International Energy Forum (IEF) in Doha in April, it features prominently in the European Union’s Green Paper on a European Strategy for Sustainable, Competitive and Secure Energy, and it headed the agenda at the recent G8 Summit in St Petersburg.

Indeed, in the build-up to July’s summit in St Petersburg, there was an International Conference on Energy Security in Moscow in March, followed immediately by a G8 Energy Ministerial Meeting. In OPEC’s official statement to the Ministerial Meeting, we made the point that “the concept of ‘global energy security’ is so fundamental to life in the 21st century that every effort must be made to clarify its meaning, to gain a consensus on this and to ensure that its true principles are embodied in decision-making processes across the energy sector by at least the major players.”

We welcomed the broader-based approach by consuming countries to energy security — as opposed to merely supply security — that emerged in St Petersburg. At the end of the summit, the Chair stated: “We agreed that dynamic and sustainable development of our civilization depends on reliable access to energy. It is best assured by strengthened partnership between energy-producing and consuming countries, including enhanced dialogue on growing energy interdependence, security of supply and demand issues.”

The issue of security of demand is very important to OPEC and other producing countries. Security of demand must go hand-in-hand with security of supply as a means of achieving market stability, since, without the confidence that predictable, reliable demand for oil will emerge, the incentive to undertake the necessary investments can be significantly reduced.

Nevertheless, in spite of these positive developments at the G8 Summit, we feel, in OPEC, that more confidence could have been expressed by the participants at large about the willingness and the ability of oil-producing developing countries to service the growing world energy requirement in the years ahead.

So far, I have endeavoured to explain the importance of stability to the international oil market and the world economy at large, as well as OPEC’s unyielding commitment to achieving and sustaining market stability and security, from which all responsible parties can benefit. Let us now look at how OPEC goes about meeting this commitment.

A good place to start is with the present market volatility, which, as I have already remarked, has persisted for around two and a half years. I earlier tried to illustrate the mindset of OPEC’s Oil Ministers as the new situation began to unravel in spring 2004, referring to the OPEC Conference of March that year.


Read full report on http://www.opec.org/opec_web/en/994.htm

[/size]

I hope you realize that the use of bold blinding fonts does not make Buhari a genius.

Please use a readable font size