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Nairaland Forum / Nairaland / General / Politics / America No Longer Need Nigerian Oil- Pres. Obama (5403 Views)
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Re: America No Longer Need Nigerian Oil- Pres. Obama by Horus(m): 1:06pm On Jun 30, 2013 |
Re: America No Longer Need Nigerian Oil- Pres. Obama by Rossikk(m): 2:32pm On Jun 30, 2013 |
Xenox: And u seem to not to perceive the urgency of the effect of Fracking on the net oil export of Nigeria. There was 41% drop in the crude exports of oil-producing African Nations of which Nigeria's share was 11% in one year. Show us your source for this claim. US has plenty reserve of conventional crude and huge unconventional reserve which they have just started to produce with relatively cheaper Fracking process, this shale oil has grown from 111,000bpd in 2004 to 553,000bpd in 2011 equivalent to a growth rate of around 26% per year. Argentina, China, New Zealand, Mexico, Russia, Columbia, Australia, Japan, have invested heavily in projects to assess non-conventional energy potential and in the extraction and production of shale oil which will surely displace OPEC as the chief price fixer. Even if other minor countries import oil from Nigeria, it will at a lower price per barrel and this will rip our economic fabric into pieces. Hot air. The FACT is that shale oil accounts STILL for only a MINOR part of US oil consumption. It is not necessarily the quantities discovered that should lead you to think the days are done for conventional crude demand. Most important is the cost of extraction of shale. So far the costs are generally higher than for crude oil, since shale oil is hidden inside rocks deep beneath the earth in often remote regions, thus requiring more expensive extraction processes. Insofar as the costs of shale extraction remain higher than the cost of extracting conventional crude, then crude oil will remain no 1, simply because it will cost less. Additionally, there are numerous studies showing the environmental risks associated with hydraulic fracturing (fracking) (for those who don't know, this is the smashing up of rocks deep beneath the surface to free up shale oil and gas), so it is still not clear how much nations are willing to entirely substitute shale for conventional crude/natural gas, biofuels etc, which are cleaner energy sources. |
Re: America No Longer Need Nigerian Oil- Pres. Obama by Gbawe: 3:06pm On Jun 30, 2013 |
http://www.thisdaylive.com/articles/obama-we-don-8217-t-need-energy-from-africa/151925/ Obama: We Don’t Need Energy from Africa |
Re: America No Longer Need Nigerian Oil- Pres. Obama by drnoel: 5:08pm On Jun 30, 2013 |
la_unique: And what is obama and americans feeling like now? God?Believe me they deserve to feel like gods cos they have accomplished wat would finally break OPECS back. Nigeria has better start counting the death of NNPC and start looking for alternative sources of funding like agriculture and coal.. 1 Like |
Re: America No Longer Need Nigerian Oil- Pres. Obama by jjcbuthot: 6:18pm On Jun 30, 2013 |
dasparrow: @Post And who is going to lead the diversification drive? Jona? I laugh... 1 Like |
Re: America No Longer Need Nigerian Oil- Pres. Obama by VolvoS60(m): 9:40pm On Jun 30, 2013 |
Symphony007: unlike the british and americans, the chinese are not imperialist. They are'nt sending their companies to dominant and expliot countries. They do their buisness, get their profit, the host government gets it's profit and they leave. They are'nt hipocrites like the west who rant against corruption in africa and use the seven sister oil companies and corporations to exastubate that corruption so expliotation can be easier. Africa cannot grow on it's own. No country or continent did. We need someone to help us build up those fences and the chinese are the best. ^^^^It is naïve of you to say that the Chinese are not imperialist. Their imperialism may not take the form commonly associated with the West but it is there nonetheless. Do you really think that their relationship with Africa is as straightforward as what you have stated up here? Our relationship with the US and Britain was (and still is) a highly unequal one, defined as you pointed out by double standards and hypocrisy. But have we learned anything? Are we dealing with China and other new powers on our own terms? No we are not. Your post seemed to reflect barely restrained glee that the Chinese are now on the scene to 'deal with' the British and the Americans. That mindset is harmful, greatly harmful to our short and long term interests. The right approach is to ensure that we ALWAYS negotiate a fair deal that protects our interests, whether we are dealing with the Russians, Americans, British, Chinese, Uzbeks, Chechens, Guatemalans or whoever. NONE of these groups is a 'friend'. They are here to protect and preserve THEIR interests. We have failed to protect and preserve OURS for so long and the consequences have been disastrous. This has to change. 2 Likes |
Re: America No Longer Need Nigerian Oil- Pres. Obama by Horus(m): 10:13pm On Jun 30, 2013 |
2 Likes |
Re: America No Longer Need Nigerian Oil- Pres. Obama by DaLover(m): 8:20pm On Jul 01, 2013 |
ndu_chucks: If those with oil found in their region are lazy, what would you call those who depend on the monthly allocations? 1 Like |
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