₦airaland Forum

ttmacoy:
Shale oil is a threat to conventional oil at the right prices, and the cost of extracting shale oil is expected to continue to fall with increasing development and improvement in the technology.

Saudi Arabia is not suppressing prices in conjunction with America as shale oil is a competitor. Saudi did not reduce output because whilst that may stabilise oil prices a bit, it also means volume of oil sold falls hence there is still a fall in revenue.

This is a win win situation for America as if oil prices goes up, shale picks up and America exports lot of oil, if oil prices falls, its cheaper for American consumer who are the second country that consumes oil after China. The money saved from lower il process is spent in other parts of the economy which is a boost. America unlike countries like Saudi and Nigeria only makes a very small percentage of government revenue from oil. Shale is all private companies so from a GDP and government revenue perspective, America is in a win win situation.

alabiyemmy:
so?

bushdoc9919:
Actually, the truth is much different.

Over the last decade,America has been becoming sufficient in oil production....which has led to it becoming less dependent on Saudi oil. Thus the Saudis are promoting a glut in oil supplies from OPEC so as to bankrupt the US shale oil producers....who are responsible for American self sufficency in oil.

And BTW....the average American and their government prefer low international oil prices...because it means the average american can buy fuel cheap. That is the real reason why the US wants to keep oil prices down....voters.

In my opinion....any country that says it is relying on oil is mis-advised. Russia in particular has enough engineering and scientific knowhow to develop an oil free economy....and so too does Iran. Yet...they prefer oil because oil brings in fast money.

Which leads me to point 2. Ten years ago....if I told you that countries like Cuba, Uganda, Zambia, etc would discover oil....you would be laughing at me. Not anymore. New oil fields are being discovered every day. There is also the potential of alternative sources of energy...like green energy.Infact, many African countries have people looking for oil all over.

So...no anti-Russian plot. Especially as the Saudis themselves have said they are doing it to fight American oil companies....and when Vladimir Putin spends the first part of a press conference lamenting that he did not diversify his economy from oil. Looks like a lot of people have not learned anything from the last mega drop in oil prices in the 1980's.

So....Nigeria should forget oil. But you Nigerians do not want to work for your money. You all want your cake at the right time every am. That is why you shout ''Fiscal Federalism'' (ie a big slice of the cake) and ''Oil belongs to all of us'' rather than ''education, savings and innovaiton''.

Oil is a curse.

Mee234:
Better things like tend to his cow? if he can not remember his phone number than he is senile. That's probably why tinubu is backing him

Change2015:
You don't see how embarrassing your response is? 4trillion face-lift and boko haram is still a problem? Oil theft is still a problem? The stupid Jonathan cannot even ask his immediate predecessors like obasanjo, abacha, IBB that he went to beg in minna last week? Abeg, which kind of foolishness is that? 4trillion and even to see Chibok girls has turned into excuses by moonlight. Rubbish. Jonathan should ask himself why the security services that consume almost a quarter of our budget, cannot handle boko haram, even as he was happy to give all the service chiefs national honours just a few months ago. For doing what?

Zoharariel:
@OP - I have 4 questions for you & your people.

1.) If the Igboland is not landlocked; Y can't Igbo business men be shipping & clearing their containers at Anambra, Onitsha or even Enugu through the so-called Uguta Lake instead of.

Gracias!

Zoharariel:
@OP - I have 4 questions for you & your people.

1.) If the Igboland is not landlocked; Y can't Igbo business men be shipping & clearing their containers at Anambra, Onitsha or even Enugu through the so-called Uguta Lake instead of.

Gracias!

BonaVIta:
MAYBE YOU WROTE QUITE WELL, BUT Y0UR PRESUMPTION THAT PART OF AKWA IBOM STATE IS MADE UP OF THE IGBOS IS INACCURATE. DO YOUR RESEARCH PROPERLY BEFORE YOU THROW IT INTO THE WORLD, DON'T CROSS BOUNDARIES WRONGLY.

herinolah:
Nice post....but dat still won't make me like dem
Igbo people are so so desperate for money..80% is ritual,15% prostitution and making fake things just 5% is clean money from hardwork

And they have some stupid cultures dat should not be heard of..maybe because most of them are not literate...they nearly killed my sis when she got married to an igbo guy..

They got married 2007 but the guy didn't take her home even after 4 kids,my sis should av suspected that there must be something wrong with his family..but she was thinking maybe he is "akudaya"..so she pestered him to take her home..when they got to the place she was welcomed grandly..they had a great feast for her and her kids..then they gave her money to go and buy something from the market,when she got there she started pricing things she wanted to buy..as an ijebu woman she can price ehn,she got to a place and just spoke her language she said (urun ma won bewe)things are costly here oo ..dat was when an ijebu lady dat came to sell things there asked her what she was doing there dat there is a mark on her and the mark is given to any lady they want 2 kill. she explained everything to her and the lady helped her escape...she got a divorce when the guy came back with just 2kids

Then he explained everything to her,dat it is their culture(can u imagine what kind of stupid culture is dat)..dats y he didn't want 2 take her home

Av never heard a good story about igbos,only bad and scary ones,

Igbos ehn I dislike them like shit,I hardly make friends with them,they scare me..they can do anything 4 money

tundeayo2020:
HYN bro

ceo4eva:
Safe Trip, Mr President!
www.nairaland.com/attachments/1979543_800x525xGoodluckJonathan_jpg_pagespeed_ic_p9ppbvJFaf_webp_jpg53a5fcbfd4007bc1424647141d0defc2

faceURfront:
Really. I guess u are one of those who think every problem has to do with leadership. Have you ever been part of any project of technical nature from conception to commissioning tests? I bet when you do, you will take a broader look at issues like this

faceURfront:
Less than 5what to build a hydro station dat generates over 2000MW? . Small small wit the lie na. Such a project in present times with all the modern civil engineering equipment and machines will still take between 10 to 15 years.

ireneony:
I know about rap music.
we know African American originated rap music, but in other part of the world rapper try to infused their culture and style in hip hop, but in the case of mode 9 he sound so Americanize.
I call that plagiarism, trying to sound like a rapper from new York.
mode 9 is not creative and music is about creativity, when I hear his music he sound lame and doesn't grow.
hardcore for example is bobby shmurda.....hip hop is improving, we are not in the 1990s any more.

boy bye

ireneony:
This guy rap is lame. He needs to retire from music or better still stop rapping and join the thread of commercial music