₦airaland Forum

One too many a time these people make statements and lounge in their homes while youths fight over what they say, how sad how uneducated some of our youths are.

We should not judge a book by its cover we have not read the book so why pass so much judgement about its informational authenticity? Its quite unfortunate that an accused criminal can be used by as sitting and non sitting President, they say familiarity breeds contempt I hope GEJ is ready for a taste of Obasanjos pills from Buruji as people of his kind a loyal to the office and not the person. We still are not getting it yet how do people of the type of kasamu harness so much power? We are merely reliving our history our military and earlier republic have taught us very little.

being a governor in nigeria entails two parameters that determines their overall success which are shared equally namely 50% governance and 50% politics both needing to be played simultaneously . every governor will most likely achieve 20% in governance and with a extra effort and share will he can achieve 35%. the big problem is the political half which is satisfying the party to some extent and also putting the state to be governed into consideration PDP led government usually have problems in this aspect as compared to their APC counterpart except for governors that have hijacked the party structure in their states and i feel this is were mr Jimi will have serious problems, he would have to please bode george, obanikoro, presidency etc which could make him score a 10-15% or lower political section totaling his overall effectiveness as 45% which will be a mere pass but ambode could score up to 25-30% in the political aspect giving him an average effectiveness of 60%. from this analysis it would be safe to give ambode the mandate and not jimi not because he is a better man but because the political atmosphere favours him. just my point of view though.

There are three sides to every your side his side and the right side. First of all your pastor was surpose to counsel you both seperatly to get both sides and then jointly to give the right side I guess time did not permit him to do that. I think you should pray concerning this issue, for you both to marry you must have love for each other and love worketh no I'll against his brother not to talk of his own flesh, you both are making huge withdrawals from your love bank accounts and the reverse should be the case, you both have to rekindle your love for each other and make your marriage work.

We may as well leave this IGP ooooo cos they will just install Joseph Mbu which will be a case of frypan to fire.

planning a wedding could be quiet hectic i think the idea of honeymoon is a brief period for complete rest and revitalisation before kick starting marriage proper.

At least we are now sure some foreign Governments is involved. The only mistake I see here is publishing the report too soon, we should have bugged the cargo and sent it to its location in other to gather intelligence on the recipient location and distribution channels. We found out about d weapons but still can't stop them from coming into Chad.

I wonder why people are saying oil is a curse, I went to UAE and saw what the supposed curse has done to develop their country. The greatest resource at the disposal of mankind are people and not jus people, good people, we squandered our collective wealth for over 60 years and are hoping for a miracle abi. Saudi Arabia is bent on making sure that shale oil doesn't see the light of the day and are ready to sell oil at as low as 40 dollar per barrel with the hope of surviving on their reserves, forcast has shown that it may take years for the price of oil to shoot up again as war prone countries like Libya, Iran, Iraq, Algeria etc are now relatively stable hence oil is over supplied.

The discovery of shale has proved on thing which is the possibilities of alternative sources of energy the era of oil is fast coming to an end. As for our government they need to start exploiting other sources of revenue steel is a big industry many Russians have become billionaires from it, large scale agriculture is another they are so many opportunities we are yet to exploit my only reservations will be the resources which we need to develop this opportunity might not be readily available.

It won't be about winning or losing it will be more of who gives the better offer. I'm really looking forward to it as I'm undecided on who to vote for at the moment I hope it will be independent like the NN24 debate in 2011 and I hope GEJ won't call on his nta employees (I.e Cyril Stober and the likes whose pay check is signed by FG) to ask him questions that he must have rehearsed with them. I do think GEJ is better prepared now than 2011 sha and GMB is more brushed up, it certainly will be an interesting 1 to watch.

Chips

a majority of Nigeria are undocumented especially in the north if we don't have a proper database to show citizens date of birthday and death we really cannot prove in a court of law that minors are registering to vote i mean there will be no evidence to tender. another route will be a medical test to prove that they are minors but how many will we test? who bears the cost of such tests? The system has been broken for years and it will take some effort to fix it all we need is a visionary leader to take the drivers seat.

How do you generate 50% of your vehicle components locally, beeing that our steel industry in the country is dead?

Who care where the speaker comes from so far we can get shelter, electricity, water, motorable roads, and a job to go to. Mr President just do your job and history will be kind to you, what Nigerians are asking for is not too much.

GEJ winning south west is subject to the candidate presented by APC but I am in doubt about his success SW come 2015, most people voted for him in 2011 cos they believed he deserved a chance but unfortunately he hasn't lived up to manys expectations. The question still remains are we better off now than in 2011? Are the transformations publicised more on paper than reality? We the people are the onces to issue out score cards of the present government not ministers, special adviser, special assistant, or even the president himself. This score card should guide our judgement on who deserves the rudder of the ship.

A good development to our politics, I just hope they make the moderation independent.

I don't think APC peeps are that stupid to clone PVC in a random building in lagos. DSS need to be apolitical

i am an only son and my parents stressed the importance for all their children being able to take care of themselves anywhere anytime and not depend on anyone. i drive to the market to buy food, i cook my meals,do the dishes, clean my house etc. i would definitely teach my kids to be self dependent it saves money and it brings prestige.

erico2k2:
Do you realy know the reason why they where prevented from gaining entry? dont just comment for commenting sake,dont be lazy go out and buy a news paper better still use google properly.

i will appreciate it if you educate me.

our security institutions need to operate as professionals and not political bigots. our law makers need to exhibit decorum i mean climbing the gate like a monkey is unacceptable for an honorable. PDP is unnecessarily heating up the polity and given us a taste of what the 2015 elections will look like. our security operative are compromised that is the reason we have not yet won the battle against, i just hope that if the presidency get what they want they will equally want what they get in the future.

A falling oil price is good for the US consumer and good for the US economy. Transport costs feed into the price of every physical product, so if oil gets cheaper, everything gets cheaper. If the oil price falls too far, however, the USA's recent fracking boom will come to an end. Forces are at play to end the USA's projected energy independence and return the country to dependence on the Middle East for its fuel supplies. The USA's long-term key supplier, Saudi Arabia, doesn't want to lose grip on its best customer.

Recession

Falling factory output in China and the onset of recession in Europe means that a continued fall in the demand for crude oil is inevitable. The recent return to production of Algeria, Libya, Iraq and Iran means that the world is already oversupplied with crude oil. The astonishing rise of production by hydraulic fracturing in the USA means that America is increasingly self-sufficient in oil. When supply exceeds demand a fall in the price of any product is inevitable.

When a market is over supplied, prices continue falling until enough suppliers are forced into bankruptcy to reduce supply to the level of demand. At that point, prices can start to rise again. This is the classic explanation of the causes of recession and recovery. However, the oil market is different. Lead times and start up costs are high in the industry and so production cannot just be turned on and turned off at will. Oil has a global sales price but location-dependent variations in production costs. Middle eastern producers responded to the peculiarities of the oil economic cycle by forming OPEC to limit supply in times of economic decline and support the price of oil. By controlling supply levels and sharing out the cuts between them, the 12 nation club can ensure that none of the producers have to go bust before supply and demand return to equilibrium.

Return to Market

The recent return of production by Algeria and Libya put pressure on OPEC's oil quotas. Both these recovering countries are OPEC members and so their sudden return to the market means that the club now exceeds its self imposed limit of 30 million barrels per day. The inevitable fall in the price of crude oil, caused by over supply, should have sent the members to the conference table for an emergency quota-slashing meeting. However, key members of OPEC fell silent, and stuck to the planned meeting schedule, meaning the group will not meet until November to talk about limiting output.

OPEC has no power to impose its quotas and so if the member states do not want to abide by them, there is little anyone can do about it. The group's stated limit of 30 million barrels per day would still see the market in over supply. Any quota-busting production spells disaster for the price of crude oil.





Oil Price Fall Threatens US Oil Production
High-tech US oil producers need $80 per barrel to be profitable. Saudis need only $50.

Oil Price Fall Threatens US Oil Production By STEVE AUSTIN for OIL-PRICE.NET, 2014/11/04
A falling oil price is good for the US consumer and good for the US economy. Transport costs feed into the price of every physical product, so if oil gets cheaper, everything gets cheaper. If the oil price falls too far, however, the USA's recent fracking boom will come to an end. Forces are at play to end the USA's projected energy independence and return the country to dependence on the Middle East for its fuel supplies. The USA's long-term key supplier, Saudi Arabia, doesn't want to lose grip on its best customer.


Recession

Falling factory output in China and the onset of recession in Europe means that a continued fall in the demand for crude oil is inevitable. The recent return to production of Algeria, Libya, Iraq and Iran means that the world is already oversupplied with crude oil. The astonishing rise of production by hydraulic fracturing in the USA means that America is increasingly self-sufficient in oil. When supply exceeds demand a fall in the price of any product is inevitable.

When a market is over supplied, prices continue falling until enough suppliers are forced into bankruptcy to reduce supply to the level of demand. At that point, prices can start to rise again. This is the classic explanation of the causes of recession and recovery. However, the oil market is different. Lead times and start up costs are high in the industry and so production cannot just be turned on and turned off at will. Oil has a global sales price but location-dependent variations in production costs. Middle eastern producers responded to the peculiarities of the oil economic cycle by forming OPEC to limit supply in times of economic decline and support the price of oil. By controlling supply levels and sharing out the cuts between them, the 12 nation club can ensure that none of the producers have to go bust before supply and demand return to equilibrium.

Return to Market

The recent return of production by Algeria and Libya put pressure on OPEC's oil quotas. Both these recovering countries are OPEC members and so their sudden return to the market means that the club now exceeds its self imposed limit of 30 million barrels per day. The inevitable fall in the price of crude oil, caused by over supply, should have sent the members to the conference table for an emergency quota-slashing meeting. However, key members of OPEC fell silent, and stuck to the planned meeting schedule, meaning the group will not meet until November to talk about limiting output.

OPEC has no power to impose its quotas and so if the member states do not want to abide by them, there is little anyone can do about it. The group's stated limit of 30 million barrels per day would still see the market in over supply. Any quota-busting production spells disaster for the price of crude oil.

Policy Change

Saudi Arabia is by far the largest producer in OPEC, although on a global scale, their output is exceeded by Russia. It has always been in Saudi Arabia's interests to keep the price of oil high. This is because, despite decades of wealth, the county hasn't managed to produce any other industry that could sustain the levels of state spending to which the country has grown accustomed. Saudi Arabia uses the threat of reduced production and high oil prices to give it a very power voice in world politics and it is particularly adept at co-opting American military might to its pet causes.

Suddenly, Saudi Arabia seems to have switched its policy. It increased its production in September 2014 and not only fails to support the current price but seems to be actively pricing its sales to drag the global price of oil down. The country is now selling at a price lower than the level it needs to maintain state spending. It is dipping into reserves to enable it to undercut its rivals. The OPEC alliance has split and old rivalries in the Middle East are driving the current fall in oil prices.


Oil Price Fall Threatens US Oil Production By STEVE AUSTIN for OIL-PRICE.NET, 2014/11/04
A falling oil price is good for the US consumer and good for the US economy. Transport costs feed into the price of every physical product, so if oil gets cheaper, everything gets cheaper. If the oil price falls too far, however, the USA's recent fracking boom will come to an end. Forces are at play to end the USA's projected energy independence and return the country to dependence on the Middle East for its fuel supplies. The USA's long-term key supplier, Saudi Arabia, doesn't want to lose grip on its best customer.


Recession

Falling factory output in China and the onset of recession in Europe means that a continued fall in the demand for crude oil is inevitable. The recent return to production of Algeria, Libya, Iraq and Iran means that the world is already oversupplied with crude oil. The astonishing rise of production by hydraulic fracturing in the USA means that America is increasingly self-sufficient in oil. When supply exceeds demand a fall in the price of any product is inevitable.

When a market is over supplied, prices continue falling until enough suppliers are forced into bankruptcy to reduce supply to the level of demand. At that point, prices can start to rise again. This is the classic explanation of the causes of recession and recovery. However, the oil market is different. Lead times and start up costs are high in the industry and so production cannot just be turned on and turned off at will. Oil has a global sales price but location-dependent variations in production costs. Middle eastern producers responded to the peculiarities of the oil economic cycle by forming OPEC to limit supply in times of economic decline and support the price of oil. By controlling supply levels and sharing out the cuts between them, the 12 nation club can ensure that none of the producers have to go bust before supply and demand return to equilibrium.

Return to Market

The recent return of production by Algeria and Libya put pressure on OPEC's oil quotas. Both these recovering countries are OPEC members and so their sudden return to the market means that the club now exceeds its self imposed limit of 30 million barrels per day. The inevitable fall in the price of crude oil, caused by over supply, should have sent the members to the conference table for an emergency quota-slashing meeting. However, key members of OPEC fell silent, and stuck to the planned meeting schedule, meaning the group will not meet until November to talk about limiting output.

OPEC has no power to impose its quotas and so if the member states do not want to abide by them, there is little anyone can do about it. The group's stated limit of 30 million barrels per day would still see the market in over supply. Any quota-busting production spells disaster for the price of crude oil.

Policy Change

Saudi Arabia is by far the largest producer in OPEC, although on a global scale, their output is exceeded by Russia. It has always been in Saudi Arabia's interests to keep the price of oil high. This is because, despite decades of wealth, the county hasn't managed to produce any other industry that could sustain the levels of state spending to which the country has grown accustomed. Saudi Arabia uses the threat of reduced production and high oil prices to give it a very power voice in world politics and it is particularly adept at co-opting American military might to its pet causes.

Suddenly, Saudi Arabia seems to have switched its policy. It increased its production in September 2014 and not only fails to support the current price but seems to be actively pricing its sales to drag the global price of oil down. The country is now selling at a price lower than the level it needs to maintain state spending. It is dipping into reserves to enable it to undercut its rivals. The OPEC alliance has split and old rivalries in the Middle East are driving the current fall in oil prices.

Hydraulic Fracturing

The techniques behind hydraulic fracturing have been around since the 1930s. However, refinement of the process and its application to shale in the late 1990s made the process a commercially viable method of oil extraction. As the technique developed and was combined with horizontal extraction methods, hydraulic fracturing, or "fracking" created exponential growth in US oil production. By 2010, the success of fracking had removed the need for the USA to import gas and US companies skilled in the technique began to spread across the world looking for earning opportunities in other countries. Large shale oil basins were discovered across the globe and US businesses looked set to reap the rewards of their expertise by dominating oil production by this technique.

Oil Price

In a perfect market, unhindered by politics, cartels or special interests, the price of a product is the only mediator between its demand and its supply. When demand for oil exceeds supply, its price rises, making extraction from inhospitable locations, like the Arctic tundra or offshore platforms, economically viable. More of the world's oil becomes profitable and so more is extract by extending production to previously unprofitable locations. Output rises to meet demand and the price stabilizes. If supply exceeds demand then the price falls. If the price falls far enough, and stays low long enough for those extractors in high-cost locations to go bust, excess production will be squeezed out of the market and the price will rise again.

The expansion of fracking in the United States has contributed to over-supply. Fracking is only viable at a certain oil price level, so, in many ways, by forcing over-production, hydraulic fracturing oil producers have contributed to their own problems. Investments were made in low-margin extraction and loans were secured to finance them, based on the convention that no matter how much oil the US produced, price levels would be maintained by OPEC cutting production. Financiers did not have to worry about the dangers of supply and demand because OPEC would ensure price stability.

New Normal

Saudi Arabia has put its foot down. In the face of triumphalist crowing about energy independence in North America the country has turned to the classic economic model of price being determined by the equilibrium between supply and demand. Not only are they not reducing their prices, they are actually cutting them. They are not lowering production levels, they are increasing them. The Kingdom has large cash reserves and they seem to be prepared to coast on their savings for as long as it takes for their competitors to go out of business. Fracking is vulnerable and will not survive a price drop unless the US oil industry reorganizes.

Challenges

Thanks to financing costs, new hydraulic fracturing sites are unlikely to be opened up if oil stays at less than $90 per barrel for any length of time. Each extraction project is different and incurs different plant investment costs, returning different profit margins. The banking industry, however, works on a blanket level of a need for $80 per barrel for a project to turn a profit. The extra $10 is needed to ensure the banks get paid back.

However, some shale oil regions, such as the Eagle Ford Shale and Permian Basin in Texas can still turn a profit selling at $53 per barrel. The problems faced when assessing any new shale oil project include distance to distribution points, local availability of accommodation, the capacity of the transport network and availability and price of expertise and staff. These factors can make crude oil cheaper to deliver from Texas or North Dakota to refineries on the East Coast, or it can make Saudi oil, arriving by tanker, cheaper than domestically produced oil.

Solution

Hydraulic fracturing became a viable business in the US because of a rising oil price and also because of falling production costs. Necessity is the mother of invention and it should not be assumed that the industry will not continue to develop cheaper methods and equipment. The shale oil producers have been living high on the hog with a gold rush mentality, spraying cash in all the communities into which they move. Therefore, there is a lot of fat to trim to bring inception and operation costs down. High payments to property owners for drilling access are probably soon to be dramatically reduced, building schools and community facilities are expensive public relations exercise that may not happen again.

Supported by technology and aggressive cost cutting, the US shale extraction oil producers can continue to expand their share of the market. Pipeline projects to distribute domestic oil to US refineries would lower delivery costs and further reduce the price disadvantages of shale oil. US producers need to be smart and act quickly, however, the Saudi Arabia Oil Policies and Strategic Expectations Center recently revealed that the Kingdom is prepared to go as low as $50 per barrel, which would be a tough price to match.

Credit:http://oil-price.net/en/articles/oil-price-fall-threatens-us-oil-production.php

Fayose is back. Because the executive controls the beacon the legislation dances to their tune, until the legislation understand the powers they have they will continue to languish in executive slavery. It can only happen in Nigeria/Africa where rascals are entrusted with power and they turn the whole place to a jamboree.

Why make so much noise about this arms issue if US refuses to sell go n buy d KA52 alligator from Russia they are in same grade level as cobra and the cost are close to each other. Our government should take responsibility by exploring other options and stop pointing fingers it is not by force to help anybody it is by choice if they say no look for the next best thing.

BreezyRita:
When couples get married, who follows who where??
Does the woman have to attend the husband's church?? Can it ever be the other way round?

The norm is the woman following her husband, but what if you love a man but you're not okay with his denomination??

Thats what courtship is meant for, you discuss things like church, number of children you want, home expectations, sex, training process for your kids, and your expectations from each other. Most people play away their courtship and hence they struggle the first year of their marriage to put these things in place. Marriage counseling is not enough couples need to define the modus operandi of their marriage and not live the marriage life of their councillors.

Just wondering when the house speakership was the president to give. One of the reasons why our democracy is stable but doesn't grow, executives lording it over legislators.

FG just caused a major battle in the house, tambuwal remaining the speaker doesn't change. anything this thing about power be it useful or useless is one thing PDP can't define. The reconvening of the house in Dec is going to be war till elections are over. They all do not need this

Omimah:
He never taught in any university, but the Rivers State College of Education.

I'm sorry for the wrong info. Thanks for the correction

John maxwell said ''Leadership is influence nothing more nothing less'' education is and enhancer of leadership it simply broadens ones perspective. GEJ must have thrived as a teacher in uni port but follows don't want to be taught they want to be led. If he weren't a good lecturer he would probably have been fired from his lecturing job, I really do not think we should quantify leadership with a level of education I therefore do not support the stance of the professor and also he should remember that uneasy lies the head that wears the crown.

CrinkumCrankum:
They did not interpret the law, they Just ENFORCE it which is their primary duty...you are a LEANER....Politics is not for babies

Section 50(1) (b) of the Constitution says: “There shall be a Speaker and a Deputy Speaker of the House of Representatives, who shall be elected by the members of that House among themselves.”
Order 1 Rule 2 and Order 2 Rule 3(1) only ask the House to regulate its conduct. It is silent on whether the Speaker should emerge from the ruling party or the opposition.
Order 1(2) says: “In all cases not provided for hereinafter, or by sessional or others, precedents or practices of the House, the House shall by resolution regulate its procedure.”
Order 3(1) says: “3(1) The election of Speaker shall take precedence over any other motion. No any other motion shall be accepted while it is proceeding and the House shall continue to meet if necessary beyond its ordinary daily time of adjournment, notwithstanding any Standing or Special Order, until a Speaker declared elected.

We are a civilised society you don't use one rule to kill the other. Now we are speakerless as a result of the action of the police.

This is the genesis of our problems when public servants who ought to act as professionals tow the line of politics. When did the police begin to interprete our laws for us? Has our judiciary gotten so useless? I think GEJ needs be careful about all these escapades cos it will definately come around back. I personally believe he will win the 2015 election but these same PDP cronies will have nothing to prove to him again or need anything from him and that will be were his problems will start, these same people pushing tooth and nail for him. We can see how the ministers used him as a platform to launch themselves into main stream gubernatorial candidates people who have acquired experience in office and are surpose to stay on to make him succeed now he has to get people to start from scratch.
PDP needs to learn to not waste resources fighting fruitless battles, the speaker and house can do little or nothing productive with the time left. 3 months to election which will be used for campaigns and so on. why not save the ace for something better?

Let's not be too hasty to pass judgement here the report itself needs be subject to confirmation from the speakers camp let's not peddle propaganda.

The issue of the speaker resigning or not should be a non issue to Nigerians, in stead we need be asking our legislators what they have achieved in 4 years of representing us, how many bills they have passed, how many people oriented laws have been amended, and a clear justification for their salaries, but instead they feed us with deflection problems and politics and as usual we swallow it hook line and sinker there by not disappointing them. I mean who cares if a cow is the speaker so far I can get food on my table, roof on my head, a job to go to, transportation etc.

We Nigerians really need to define the kind of country we live in, a political country or a developed country.

This private investors can't run these companies as a result of decay, debt, and non profitability. FG was surpose to standardise the sector and remove all the Bottleneck's before privatisation or better still grant a time bound licence to investors with tax breaks on importation. I really don't understand why privatisation doesn't work in Nigeria.

FG should stop funding them and all these nonsense will stop clear and simple. we hardly have any issue in nigeria that is not money related directly or indirectly.