₦airaland Forum

For those of us who joined the rally against the removal of subsidy by the government in 2012, we are part of the problem Nigeria is facing today. If subsidies were removed, we would have felt the pains then but by now, we could have adapted. Now with the decline in oil prices and the devaluation of the Naira our future is very bleak.

See Sanusi's prediction on video.





https://www.youtube.com/watch?v=kTly9wWVH5c

Otuike inn coming

The future is everything but bleak. You cannot pronounce the future bleak because the currency is losing value and oil prices are dropping at the moment.

By the middle of this year, oil prices will stabilize and the economy will be back on track. What we need in future is economic diversification, without which the future will still not be bleak.

Justcash:
The future is everything but bleak. You cannot pronounce the future bleak because the currency is losing value and oil prices are dropping at the moment.

By the middle of this year, oil prices will stabilize and the economy will be back on track. What we need in future is economic diversification, without which the future will still not be bleak.

Very short sighted in your analysis...do you know what the greeks are facing now. I hope you know how low our reserves have fallen. The reserves is now being used to shore up our currency.

And by stabilize what exactly will the oil price be for you assume it has stabilized? 60 dollars, 90 dollars, 110 dollars? I hope you know Nigeria needs the oil price to be about 120 dollars for us to balance our budget. The cost of shale oil per barrel is falling rapidly so I don't see the price of oil going above 80 dollars anytime soon.

Simply because you are still being paid salaries today does not mean our current model is sustainable.

Justcash:
The future is everything but bleak. You cannot pronounce the future bleak because the currency is losing value and oil prices are dropping at the moment.

By the middle of this year, oil prices will stabilize and the economy will be back on track. What we need in future is economic diversification, without which the future will still not be bleak.

rephrase this jagbajantis with reference to our clueless president, our clueless CBN govnr, our clueless finance minster, our level of corruption, and clueless graduates and undergraduates like you and I...

Oya, rephrase

Saudi Arabia, OPEC's biggest producer, whose Oil Minister Ali Al-Naimi has said OPEC won't change course even if prices go to $20 a barrel .

Better days ahead for Naija in Agriculture

Saudi Arabia, OPEC's biggest producer, whose Oil Minister Ali Al-Naimi has said OPEC won't change course even if prices go to $20 a barrel .

Better days ahead for Naija in Agriculture

BlackPeni5:
..do you know what the greeks are facing now. I hope you know how low our reserves have fallen. The reserves is now being used to shore up our currency.

And by stabilize what exactly will the oil price be for you assume it has stabilized? 60 dollars, 90 dollars, 110 dollars? I hope you know Nigeria needs the oil price to be about 120 dollars for us to balance our budget. The cost of shale oil per barrel is falling rapidly so I don't see the price of oil going above 80 dollars anytime soon.

Simply because you are still being paid salaries today does not mean our current model is sustainable.

I wanted to give you a market analysis on the issue in question, but your statement in bold made me to change my mind. You are wrong about the falling cost of shale oil "production" (I assume that is what you mean). If you mean price of oil per barrel from shale production, then you simply don't understand the permutations that you are making there. You may need to clarify and justify that statement before I give you a proper analysis. Information is too expensive to be wasted.

SLIDEwaxie:
[s]rephrase this jagbajantis with reference to our clueless president, our clueless CBN govnr, our clueless finance minster, our level of corruption, and clueless graduates and undergraduates like you and I...[/s]

Oya, rephrase

Boy, there are many things in life that are beyond political control. Your attribution of political ineptitude to the emergence of the phenomena in question reflects on you as an individual with a disease that I call "Commonsensophobia"; condition of seeing everything as having political foundation due to fear of using common sense.

Justcash:
I wanted to give you a market analysis on the issue in question, but your statement in bold made me to change my mind. You are wrong about the falling cost of shale oil "production" (I assume that is what you mean). If you mean price of oil per barrel from shale production, then you simply don't understand the permutations that you are making there. You may need to clarify and justify that statement before I give you a proper analysis. Information is too expensive to be wasted.

I only quoted a part of the report below that serves my purpose. At $80 dollars per barrel, shale oil will be profitable. This means if crude oil nears this amount, the US will increase its shale production which will flood the market with oil and further reduce the cost of oil. This cycle will continue anytime there is a rise in the price of crude. The fall in oil prices has reduced shale production by the US. However, oil prices need to remain low to ensure the market is unprofitable for them.

Note that low oil prices do not favour the Nigerian economy as I said before. We need the price to be about $120 per barrel for us to balance our budget. If you have any information, now is the time.

Break Even
West Texas Intermediate crude, the U.S. benchmark, fell to a four-year low of $73.25 a barrel on Nov. 14, from $107.73 on June 20. Goldman Sachs cut its first-quarter forecast to $75 a barrel on Oct. 27 from a previous forecast of $90.
The 12-nation Organization of Petroleum Exporting Countries has increased output by more than 1 million barrels a day since the end of May. OPEC meets Nov. 27 to decide whether to cut output or preserve market share and pressure U.S. drillers.
Estimates of the price that drillers need to break even have varied. The Paris-based International Energy Agency said about 96 percent of U.S. shale production remains profitable at $80 a barrel. Analysts at Sanford C. Bernstein LLC said one-third of the output added in the first three months of 2014 is uneconomic with WTI at $80.
About 80 percent of potential growth from U.S. shale oil in 2015 would remain economic at $70 a barrel, IHS Inc. said in a report today. At an average annual price of $77 a barrel, output will rise by 700,000 barrels a day in 2015, compared with more than 1 million barrels a day this year, the Englewood, Colorado-based data provider said.

http://www.bloomberg.com/news/articles/2014-11-20/oil-at-75-means-patches-of-texas-shale-turn-unprofitable

How to be a PDP supporter
1. Create lies.
2. Attack and insult
violently when facts are presented.
3.Scream "Gej till 2019" if faced with
superior argument.
4. Lose your sense of rationality and
logic.
5. Insult GMB and anyone
that supports him
6. Lie that GEJ didn't steal $49 billion.
7. Disagree with any event or post
that portrays GMB in a goodlight and
agree with any event or post that
portrays GMB in a badlight.
8. Lie that GEJ doesn't have a $500m farm.
9 Celebrate boko haram attacks by
shouting "Buhari call your boys to order"

(c) malikmoreni, 2015
Sai Buhari!!!!!

10. Betrayed the people's trust. Betrayed your friends. When you agree on YES, go behind their back to say NO.

Copied and Edited
(c)Canme4u2015

Sai-Buhari

Justcash:
Boy, there are many things in life that are beyond political control. Your attribution of political ineptitude to the emergence of the phenomena in question reflects on you as an individual with a disease that I call "Commonsensophobia"; condition of seeing everything as having political foundation due to fear of using common sense.

dudr, you talk too much and stop trying to impress yourself.
But the way, you failed the question.