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Nairaland Forum / Nairaland / General / Politics / Oil Price Collapses To $11 Per Barrel Amid Covid-19 Pandemic (56640 Views)
Oil Price Wasn’t $100 Per Barrel From 1999 - 2019 As Buhari Said (Fact Check) / National Grid Collapses To 40mw Again / Oil Price Hits $90 Per Barrel For First Time Since 2014 (2) (3) (4)
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Re: Oil Price Collapses To $11 Per Barrel Amid Covid-19 Pandemic by Nobody: 4:54pm On Apr 20, 2020 |
haywire07: Your plan is a fifty years plan. Only an intelligent and selfless absolute totalitarian can salvage us. The system needs a complete overhaul. 1 Like |
Re: Oil Price Collapses To $11 Per Barrel Amid Covid-19 Pandemic by ikorodureporta: 4:55pm On Apr 20, 2020 |
Assuming N400/ dollar X 11 = N4400
Divide by 159litres -barrel
= N27.6 per litre... Which is supposed to be costlier, crude oil or refined oil .. |
Re: Oil Price Collapses To $11 Per Barrel Amid Covid-19 Pandemic by bizzibodi(m): 4:55pm On Apr 20, 2020 |
E no go better for China wey release this plague on mankind! |
Re: Oil Price Collapses To $11 Per Barrel Amid Covid-19 Pandemic by salford1: 4:55pm On Apr 20, 2020 |
sassysure:I know. Sad right. We can only continue to push. People with real sense can't even stand up to say they want to contest in electrions. The current murdering lot would go after them and their family. |
Re: Oil Price Collapses To $11 Per Barrel Amid Covid-19 Pandemic by frankson1(m): 4:57pm On Apr 20, 2020 |
Rahyberg: Don't mind the Op, It’s the US Shale oil. |
Re: Oil Price Collapses To $11 Per Barrel Amid Covid-19 Pandemic by emmanuelpopson(m): 4:59pm On Apr 20, 2020 |
now is the time time for every political office holders to receive a pay cut of over 40% of their earnings.. be it salaries and allowances. and we shd look into the mining sector. all solid minerals like tin,gold,tantalite,copper ,gypsum,calcite etc shd be heavily invested on for our industries to make products for export..tiles, glass,cables, diodes and cathodes for electronic,zinc and aluminum sheets etc in the agric sector.. cash crops like cocoa,ginger kolanut, cashew nuts, etc export shd be ban..we shd make factories to process these crops into products.. there are already chain reactions of what will be necessary.. cartons, printings, logistics and eventually all our value chain's will feel the impact.. that is how we can cushion the effect of this.. but the same govt aren't ready.. they want people to be subservient and dependent on them.. and poverty is their weapons to enslaved people.. 2 Likes |
Re: Oil Price Collapses To $11 Per Barrel Amid Covid-19 Pandemic by salford1: 4:59pm On Apr 20, 2020 |
BrilliantGigolo:Just as J.Rawlings turned things around in Ghana. People were hoping for same in Bubari, but bubu takes 1 step forward and 10 steps backward. 1 Like |
Re: Oil Price Collapses To $11 Per Barrel Amid Covid-19 Pandemic by Nobody: 5:00pm On Apr 20, 2020 |
Nigsrdumb:Naija no get any place to store oil except ships. None. All our oil dey ships for sea. Almost all our ships are loaded and floating in the sea as nobody is buying. The news was here like few days ago. How can we not have land reservoirs? What is wrong with these people or they never envisaged a day like this will come one day? That's why I call them low IQ politicians 4 Likes |
Re: Oil Price Collapses To $11 Per Barrel Amid Covid-19 Pandemic by Dtribeless: 5:01pm On Apr 20, 2020 |
haywire07: A country that cannot build a functioning refinery will build a reservoir? A country that has no electricity but flares gas? Bro, wake up! |
Re: Oil Price Collapses To $11 Per Barrel Amid Covid-19 Pandemic by Nobody: 5:01pm On Apr 20, 2020 |
salford1:It's so sad. And look at how they are sharing palliative. Gosh, who do us this? |
Re: Oil Price Collapses To $11 Per Barrel Amid Covid-19 Pandemic by Xisnin(m): 5:04pm On Apr 20, 2020 |
salford1:There is a technology shift but how far will it go? In reality, only rich European countries are interested. Some others of course tag along due to the EU's threat or largesse. In North America, natural gas seems to be the alternative now pending when green energies eventually picks up. [/quote] The bold is a pipe dream and will be one for decades. Unless of course, green energy is redefined to include products from extractive industries. Moreover, retooling an entire infrastructure to green methods cannot be achieved quickly. Natural gas may be better but it is not really green energy. The bold is the main reason why crude oil will last for much longer. A fear-based policy usually doesn't turn out well in the long run. Dollar for dollar, no other energy source can match crude safe for nuclear ppwer. The so-called green energy is not yet profitable on industrial scale, most are surviving on government subsidies. This green hysteria is limited to western and part of southern Europe. The politicians are enjoying living in the bubble because of Economic stability. What will happen if there is a problem? Expect a reactionary shift in power and mindset if that happens. No one could predict Covid-19 one years ago, so you can never tell. I agree. But coal has been dying even before the current boost in electric cars. Natural gas is not really green energy. It seems the green advocates are given up before even starting as the propaganda cannot live up to reality. I expect that only new wind and solar plants will be built but it seems natural gas is becoming the real savior.
The truth is that electric cars are not a new invention. They are more than a century old. Many people seem to confuse invention with the economy. Tesla as majestic as it looks is still being heavily subsidized by the government. Africans love to copy but not to the point of economic suicide. So, electric cars will not thrive here for obvious reasons. The same thing will apply to other countries whose economy depends on crude oil or are poor. Conveniently, these countries have the largest population share. Also, there will be more economic pressure on many countries in the near future if the green adoption continues. The populace is going to look for who to blame and the green politicians will be scapegoats. The US, for example, will suffer catastrophic economic and job losses if it tries to copy western Europe. I am waiting to see a politician promise to spend billions of dollars just to make many people jobless. At the end of the day, politics and economy Trumps ideals. 2 Likes |
Re: Oil Price Collapses To $11 Per Barrel Amid Covid-19 Pandemic by haywire07(m): 5:07pm On Apr 20, 2020 |
skedman:Your problem is that you don't read and then think before jumping into conclusion without sense and begin to haul insult. Are you importing anything right now? And show me anywhere in my comment where I said Oil sales should be stopped. Next time, just relax, read carefully and then think first. |
Re: Oil Price Collapses To $11 Per Barrel Amid Covid-19 Pandemic by asamaigho(m): 5:08pm On Apr 20, 2020 |
salford1: i really pity dis generation with people like u....did u even read what u just wrote?...smh |
Re: Oil Price Collapses To $11 Per Barrel Amid Covid-19 Pandemic by Nairalandmonika: 5:08pm On Apr 20, 2020 |
Corporate2020:When the oil get value na Nigeria get am, when e nor get value na Niger Delta get am 1 Like |
Re: Oil Price Collapses To $11 Per Barrel Amid Covid-19 Pandemic by asamaigho(m): 5:10pm On Apr 20, 2020 |
wirinet: are d electric cars solar powered....bros go and study during dis lockdown abeg. |
Re: Oil Price Collapses To $11 Per Barrel Amid Covid-19 Pandemic by CHIDOHSKI: 5:14pm On Apr 20, 2020 |
It is down on Nigeria that oil will someday become worthless. Only best option is diversify the economy technologically not meaningless Agriculture Buhari is talking about. I don't why this government can not copy from China, Japan , South Korea etc. |
Re: Oil Price Collapses To $11 Per Barrel Amid Covid-19 Pandemic by TheAlchemist: 5:16pm On Apr 20, 2020 |
romeorailss: You mean Nigeria has now become a charitable organisation selling its crude far below its cost of exploration, production $ transportation. What kind of business model is this? |
Re: Oil Price Collapses To $11 Per Barrel Amid Covid-19 Pandemic by Zionist26(m): 5:17pm On Apr 20, 2020 |
Asabe4: I must confess, you look beautiful. |
Re: Oil Price Collapses To $11 Per Barrel Amid Covid-19 Pandemic by dinggle: 5:21pm On Apr 20, 2020 |
If the govt is smart, they will stock it and Nigerians can invest in the stocks. When the price goes up, govt sells at the international market and Nigerians who invested make a profit. 1 Like |
Re: Oil Price Collapses To $11 Per Barrel Amid Covid-19 Pandemic by Nobody: 5:22pm On Apr 20, 2020 |
Nigeria is in trouble |
Re: Oil Price Collapses To $11 Per Barrel Amid Covid-19 Pandemic by Nairalandmonika: 5:22pm On Apr 20, 2020 |
nedekid:Abeg what happened to the guy now 1 Like |
Re: Oil Price Collapses To $11 Per Barrel Amid Covid-19 Pandemic by Ghostmode2two(m): 5:22pm On Apr 20, 2020 |
Government should go back to the farm, it is not by loud mouthing. The prices should crash more so that those thieves in agbada will not see much to steal again 1 Like |
Re: Oil Price Collapses To $11 Per Barrel Amid Covid-19 Pandemic by PassingShot(m): 5:26pm On Apr 20, 2020 |
fulaniHERDSman:Mumu, at 35 dollars a barrel Jonathan couldn't even pay salaries and it was baba who came to bail many states put of the mess. Imagine if Buhari had 9 managed our economy well, Nigeria would have been advertised for sale on OLX by now. |
Re: Oil Price Collapses To $11 Per Barrel Amid Covid-19 Pandemic by Dtribeless: 5:26pm On Apr 20, 2020 |
haywire07: Yes, Nigeria is one of the largest importer of petroleum products (not crude oil) |
Re: Oil Price Collapses To $11 Per Barrel Amid Covid-19 Pandemic by Dtribeless: 5:27pm On Apr 20, 2020 |
PassingShot: Big Mumu, out of Buhari's savings? Or the money he met in the Treasury. Slow Africans! 1 Like |
Re: Oil Price Collapses To $11 Per Barrel Amid Covid-19 Pandemic by Smhaykins(m): 5:28pm On Apr 20, 2020 |
fulaniHERDSman: What z d color of ur problem |
Re: Oil Price Collapses To $11 Per Barrel Amid Covid-19 Pandemic by Smhaykins(m): 5:31pm On Apr 20, 2020 |
haywire07: It cost more to refine der oil dan dat of Nigeria |
Re: Oil Price Collapses To $11 Per Barrel Amid Covid-19 Pandemic by fulaniHERDSman(m): 5:31pm On Apr 20, 2020 |
PassingShot:Ok sir. |
Re: Oil Price Collapses To $11 Per Barrel Amid Covid-19 Pandemic by wirinet(m): 5:34pm On Apr 20, 2020 |
asamaigho:Believe me you are the ignorant one here. Both solar power and electric cars depends on batteries. You can charge your car batteries with any electrical source - solar, hydo, gas powered or petrol powered generator, etc. The same thing with a solar power system, you can charge your batteries from any source. The amount of power you can generate with solar panels depends on the size and total number of panels. The amount of power you can store when the sun is not shining depends on the size of your battery bank 1 Like |
Re: Oil Price Collapses To $11 Per Barrel Amid Covid-19 Pandemic by Dtribeless: 5:35pm On Apr 20, 2020 |
fulaniHERDSman: I disagree so much with your okay Sir Passingshot, but I understand. Fulanimadman, you better keep your eye on Ebay, Nigeria might go up for sale soon. If you consider the madness of the last 5 years a properly managed economy, then you confirm why the country must break -- you guys have a high tolerance for suffering and should have your own republic of suffering. 2 Likes |
Re: Oil Price Collapses To $11 Per Barrel Amid Covid-19 Pandemic by bonnyhope: 5:35pm On Apr 20, 2020 |
haywire07:Do your finding again on the bolded |
Re: Oil Price Collapses To $11 Per Barrel Amid Covid-19 Pandemic by smileyoo: 5:41pm On Apr 20, 2020 |
that's good news to the Nigeria masses, because even when oil prices were highly appreciated, the masses are not even feeling any of the impact positively. at least there 'll be less pool of funds for these our looting political elites to embezzle. with out oil money, may be our ruling class 'll be forced to restructure the polity and diversify the economy. |
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