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Nairaland Forum / Nairaland / General / Politics / Oil Price Collapses To $11 Per Barrel Amid Covid-19 Pandemic (56574 Views)
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Re: Oil Price Collapses To $11 Per Barrel Amid Covid-19 Pandemic by Dtribeless: 8:24pm On Apr 20, 2020 |
Obrigardo: What does Trump have to do with Shale oil. The issue with Shale is that oil prices have to be above a certain price to be viable. What has Trump got to do with that? Park well abeg! 1 Like |
Re: Oil Price Collapses To $11 Per Barrel Amid Covid-19 Pandemic by solreb: 8:25pm On Apr 20, 2020 |
jossytech:This is true for the US crude now. Nobody wants to buy the Futures Contract in May. |
Re: Oil Price Collapses To $11 Per Barrel Amid Covid-19 Pandemic by Dtribeless: 8:26pm On Apr 20, 2020 |
salford1: There are people, fortunately or unfortunately, still in the country. That's not a nice thing to say, my brother. |
Re: Oil Price Collapses To $11 Per Barrel Amid Covid-19 Pandemic by themanderon: 8:29pm On Apr 20, 2020 |
Our leaders have finally done us in. Save and diversify the economy for where? They would rather buy Toyota jeeps for themselves and steal to buy expensive houses in choice locations overseas, houses they cannot now visit cos of covid19. Their years of foolishness has finally caught up with us. Now the coming depression will probably reset their empty heads. |
Re: Oil Price Collapses To $11 Per Barrel Amid Covid-19 Pandemic by Nobody: 8:30pm On Apr 20, 2020 |
haywire07:..wisdom is not far from you brother |
Re: Oil Price Collapses To $11 Per Barrel Amid Covid-19 Pandemic by DexterousOne(m): 8:33pm On Apr 20, 2020 |
SocialJustice: Well said 5 Likes 2 Shares |
Re: Oil Price Collapses To $11 Per Barrel Amid Covid-19 Pandemic by Bevista: 8:33pm On Apr 20, 2020 |
grandstar:Per your last statement, it's unfortunate that we didn't use the opportunity of relatively higher oil prices to diversify the economy. We should've fixed power and other critical infrastructure to Kickstart manufacturing. Alas, the chicken has come home to roost. It's now going to be nearly impossible to make any diversification efforts. Soon, the government will have to deal with massive social unrest. 2 Likes |
Re: Oil Price Collapses To $11 Per Barrel Amid Covid-19 Pandemic by salford1: 8:34pm On Apr 20, 2020 |
Dtribeless:My apologies. |
Re: Oil Price Collapses To $11 Per Barrel Amid Covid-19 Pandemic by Dtribeless: 8:38pm On Apr 20, 2020 |
salford1: Oh WOW, super-gracious. That's scarce on this site. Well received, my brother. 1 Like |
Re: Oil Price Collapses To $11 Per Barrel Amid Covid-19 Pandemic by codemaniacs: 8:40pm On Apr 20, 2020 |
zz |
Re: Oil Price Collapses To $11 Per Barrel Amid Covid-19 Pandemic by grandstar(m): 8:42pm On Apr 20, 2020 |
Bevista: Economic activity will pickup very fast once the lockdown ends. It's like a post war recovery. People can't do business because of the war. But once the war is over, everybody is back at their various businesses and the econony begins to tick. The fastest economic growths are probably post War recoveries. It is not that business dried up like during a recession. Government instead ordered economic activity to halt until the virus is contained. |
Re: Oil Price Collapses To $11 Per Barrel Amid Covid-19 Pandemic by codemaniacs: 8:43pm On Apr 20, 2020 |
zz 3 Likes |
Re: Oil Price Collapses To $11 Per Barrel Amid Covid-19 Pandemic by sulaak(m): 8:48pm On Apr 20, 2020 |
haywire07: In design engineering, whenever you take your new design to review, the review board will task you on using the existing and legacy infrastructures instead of wasting funds on a new design. Across Nigeria, there are hundreds of infrastructures and plants that have been neglected at the expense of cheap oil exports. From the Alcon Aluminium plant that is now valued at $10 billion to the redundant refineries plants that were only built in the 1970s/80s, very young by the international standard to the Ajaokuta steel plant that can produce 10 million tons of steel for rails, constructions and manufacturing. Nigerian has no business in OPEC or exporting crude oil with its arable land and redundant infrastructures, Nigeria can easily transform its economy into a manufacturing hub in less than 5 years by leveraging its existing infrastructures and exploit skilled Nigerian in the diasporas. Finally, forget about scholar or people that have multiple academic qualifications, they have nothing to offer but hot air and corruption. Nigeria needs Nigerians in the diaspora that have a minimum of 20 years working at the highest level in Europe and America that's the only qualification that interest me. |
Re: Oil Price Collapses To $11 Per Barrel Amid Covid-19 Pandemic by tallerSSS: 8:48pm On Apr 20, 2020 |
Iceman2017:Buhari has always been cursed..nothing good ever happened in his time and even time to come. From fall on oil price to recession to pandemic to final fall on oil price then back to worse recession.. My fear is that they might still use this pandemic as an excuse for their inability to achieve. 1 Like |
Re: Oil Price Collapses To $11 Per Barrel Amid Covid-19 Pandemic by Bevista: 8:49pm On Apr 20, 2020 |
grandstar:This is going to be different. |
Re: Oil Price Collapses To $11 Per Barrel Amid Covid-19 Pandemic by andyanders: 8:51pm On Apr 20, 2020 |
haywire07: America is storing their oil for the future of their generation yet unborn. They plan for the future. Our wicked leaders are after their stomach, hence they keep looting. This is the time for the senators and reps jumbo salaries to be stopped. It should be reviewed and made public. The looting must be stopped. Our leaders ONLY go into politics just to steal and not to represent anybody. They can kill to get ellected into office.The so called donations, they are looting now. Have not seen any known person that has benefited from the audio palliative. |
Re: Oil Price Collapses To $11 Per Barrel Amid Covid-19 Pandemic by funshint(m): 8:59pm On Apr 20, 2020 |
Mehn this is not a good news for dangote. After all the money he has poured on that refinery. Chai! |
Re: Oil Price Collapses To $11 Per Barrel Amid Covid-19 Pandemic by davidswhales(m): 9:01pm On Apr 20, 2020 |
Corporate2020: Lmao! 1 Like |
Re: Oil Price Collapses To $11 Per Barrel Amid Covid-19 Pandemic by Deepfeel(m): 9:03pm On Apr 20, 2020 |
Xandelle: It clearly shows here
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Re: Oil Price Collapses To $11 Per Barrel Amid Covid-19 Pandemic by salford1: 9:09pm On Apr 20, 2020 |
sulaak:This is true. On a different thread, someone with a recent bachelor's GIS qualification was not aware that GIS has moved on from just regular surveying to Python programming and databases. I was shocked at first but then realise he genuinely was not aware. I still don't know how to reply to a question he raised on how to bypass his deficiencies in programming. Maybe those with the profile you suggested can also help with training. I remember power improved a bit when Barth Nnaji was a minister. Madam Ngozi too was not used to her full capacity. 1 Like |
Re: Oil Price Collapses To $11 Per Barrel Amid Covid-19 Pandemic by Dwanye(m): 9:10pm On Apr 20, 2020 |
Less than $1 now. God help us. |
Re: Oil Price Collapses To $11 Per Barrel Amid Covid-19 Pandemic by budaatum: 9:18pm On Apr 20, 2020 |
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Re: Oil Price Collapses To $11 Per Barrel Amid Covid-19 Pandemic by salford1: 9:18pm On Apr 20, 2020 |
andyanders:The first paragraph though. They are not storing like you think. It's just demand and supply at play. A pipeline is being built to transfer oil from Alberta in Canada to Texas in the USA. Once that is done, they might reduce or completely stop reliance on crude from the middle East/Africa. This is what they will do till technology transitionsfully into renewables. I don't know about other countries, but renewable is gaining a fast momentum in developed countries. This is one out of three electric vehicle charging station in my village of 16,000 people in North America. I myself have been romancing the idea of going EV. Lots of car manufacturers are going EV e.g. the new hummer is going to be EV, Mustang MACH E, Mercedes EQ, Audi e-tron, ford f150 E etc With the way technology is moving fast, hopefully some countries won't be left behind. I totally agree with your remaining paragraphs.
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Re: Oil Price Collapses To $11 Per Barrel Amid Covid-19 Pandemic by Chlerion: 9:26pm On Apr 20, 2020 |
Corporate2020:Hahahaha....awon inconsequential 5% and laggard peons
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Re: Oil Price Collapses To $11 Per Barrel Amid Covid-19 Pandemic by babyfaceafrica: 9:47pm On Apr 20, 2020 |
salford1:Maybe those with the profile you suggested can also help with training. I remember power improved a bit when Barth Nnaji was a minister. Madam Ngozi too was not used to her full capacity. It is not by profile... Even If Trump or Angela Merkel becomes Nigeria President, very little will change.... Our sinators and house of rep kò?.. They can always armtwist the presidency... We need to change a lot of things..... Salaries of public office holders should not be more than 200k per month... They must use nigeria made cars.. They must not travel outside the country for medical issues 2 Likes |
Re: Oil Price Collapses To $11 Per Barrel Amid Covid-19 Pandemic by salford1: 9:51pm On Apr 20, 2020 |
babyfaceafrica:True. I agree. |
Re: Oil Price Collapses To $11 Per Barrel Amid Covid-19 Pandemic by replete(m): 9:55pm On Apr 20, 2020 |
haywire07: Makes lot of sense. |
Re: Oil Price Collapses To $11 Per Barrel Amid Covid-19 Pandemic by andyanders: 9:57pm On Apr 20, 2020 |
salford1: Good on what you expatiated heren. Yes it is the demand and supply at play. But they doing that for the future of their children. The pipe America is laying from canada to texas is for the interest of their own country. our own leaders cannot think for the future, but for selfish reasons- stealing |
Re: Oil Price Collapses To $11 Per Barrel Amid Covid-19 Pandemic by chuklesley02(m): 10:00pm On Apr 20, 2020 |
[quote author=fulaniHERDSman post=88655310] Sweet & Bitter News. Nigeria on the Cross ... It is almost finished!! Zombies be like "if only Jonathan saved...." When E remain months make their dulllard clock same time Jonathan spent in that good for I can see you have no good account of history, Jonathan was an advocate of "saving for rainy days", but the likes of Amaechi, Kwankwaso, oshiomole, Saraki and co. took him to court, for him to increase revenue accrued to the states of the federation. U seem to have also forgotten, Harvard trained and world renowned Economist, Mrs. Okonjo Iweala was his minister of finance and as such came up with progressive ideas and visions which were mostly rebuffed by d governors at d time. |
Re: Oil Price Collapses To $11 Per Barrel Amid Covid-19 Pandemic by levite247: 10:06pm On Apr 20, 2020 |
grandstar:and you think a country like Nigeria fit your analysis. What happened to the post biafran war? Can you truly say we've recovered? Or we've lost our freedom of regionalism? |
Re: Oil Price Collapses To $11 Per Barrel Amid Covid-19 Pandemic by Asabe4(f): 10:08pm On Apr 20, 2020 |
Zionist26:Merci! |
Re: Oil Price Collapses To $11 Per Barrel Amid Covid-19 Pandemic by sulaak(m): 10:12pm On Apr 20, 2020 |
salford1: The likes of Ngozi and Barth Nnaji are the academic that Nigeria must avoid, to much hot air and no substance, Iweala wasted her good record under OBJ to become a rubber stamp minister that tolerated GEJ excesses. Barth Nnaji was brilliant academically but greedy, a minister responsible for Nigeria power resources also involved in building his own utility company. I am interested in Nigerians that are Chief Architect, Chief Engineers, COO, CEO and Directors in private sector organisations. 1 Like |
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