which goes back to all I have been saying all along. Deregulation and removal of fuel subsidy is not the same thing. It is not the same thing. You claim removal of fuel subsidy is the magic bullet. It is not. Get that into your head. Deregulation (good). Removal of subsidy=Higher tax on the people (bad). Since you love Ronald Reagan so much you should know that. You can't raise taxes on the people when the economy is weak. The US oil industry is deregulated and yet the government spends 3.5 billion on oil subsidy. They spend billions on other subsidies for other forms of energy, including coal, nuclear, solar, wind and ethanol, all of which have received billions of dollars in tax incentives. Explain it to me Oh Learned one who has done all the research.

I bet you have some answers for that, I'm waiting,

Stop trying to justify yourself, it's people like you that started the confusion in the first place. Removal of fuel subsidy= higher tax on people, it has nothing to do with taxes, get that into your head! When you deregulate the oil sector, it means government is not ht sole sponsor of the oil sector, meaning private investors also can compete with NNPC, making oil product cheaper in the country. The removal of fuel subsidy has nothing to do with taxes, only illiterate people will think that way, yes inflation goes up temporarily but the benefits outweighs the damage. The United States can afford to subsidize because the tax here is three times the amount in Nigeria and the GDP here is well over that of Nigeria, you talk of 3.5 billion on oil subsidy forgetting that the U.S is not a major oil producing nation, which means importation is a must, Nigerians have always claimed to be a major oil producing nation but you lack refineries and yet want to enjoy oil subsidy, come on man, get real!

abbey621:

The United States can afford to subsidize because the tax here is three times the amount in Nigeria and the GDP here is well over that of Nigeria,  you talk of 3.5 billion on oil subsidy forgetting that the U.S is not a major oil producing nation, which means importation is a must, Nigerians have always claimed to be a major oil producing nation but you lack refineries and yet want to enjoy oil subsidy, come on man, get real!

I am done talking to you. This debate is not intellectually stimulating for me. You just said the US is not a major oil producing nation? really? You refuse to answer my questions. You are not willing to learn. You just want to argue back and forth. http://en.wikipedia.org/wiki/List_of_countries_by_oil_production. They are number 3 in the world. Close to 8 billion barrels per day. If you live in the US as you claim. Go see the oil rigs in Houston, Go see the oil rigs in Louisiana, Go to California, Read up on Oklahoma. Read up about the Gulf of Mexico. Houston TX is the Oil/energy capital of the World.

abbey621:

Stop trying to justify yourself, it's people like you that started the confusion in the first place. Removal of fuel subsidy= higher tax on people, it has nothing to do with taxes, get that into your head! When you deregulate the oil sector, it means government  is not ht sole sponsor of the oil sector, meaning private investors also can compete with NNPC, making oil product cheaper in the country. The removal of fuel subsidy has nothing to do with taxes, only illiterate people will think that way, yes inflation goes up temporarily but the benefits outweighs the damage.

A tax may be defined as a "pecuniary burden laid upon individuals or property owners to support the government [, ] a payment exacted by legislative authority. What is fuel subsidy removal?

abbey621:

The United States can afford to subsidize because the tax here is three times the amount in Nigeria and the GDP here is well over that of Nigeria,

You need to read this  Why is gas in the US so cheap http://money.cnn.com/2008/05/01/news/international/usgas_price/
Gas price: It's all about government policy. Gasoline costs roughly the same to make no matter where in the world it's produced, according to John Felmy, chief economist for the American Petroleum Institute. The difference in retail costs, he said, is that some governments subsidize gas while others tax it heavily.

The United States has always fought to keep gas prices low
Why the IMF and UN wants us to end our subsidies. Subsidies, many analysts say, are encouraging rampant demand in these countries, pushing up the price of oil worldwide.
My job is done here.

I am done talking to you. This debate is not intellectually stimulating for me. You just said the US is not a major oil producing nation? really? You refuse to answer my questions. You are not willing to learn. http://en.wikipedia.org/wiki/List_of_countries_by_oil_production. They are number 3 in the world. Close to 8 billion barrels per day. If you live in the US as you claim. Go see the oil rigs in Houston, Go see the oil rigs in Louisiana, Go to Carlifornia. Read up about the gulf of Mexico. Houston TX is the Oil/energy capital of the World.

Mr man, stop insulting yourself, you rely on wikipedia for concrete information, wow! In order for a nation to be considered a major oil producing nation, it must produce more oil than it can consume, if you did proper research you'll notice the U.S consume twice or three times the amount of oil it produces, thereby not qualified as a major oil producer. I live in the U.S and I'm well versed in research, when I say something, believe me it can be backed with cold hard facts. You were so quick to try to disprove me that you failed completely in your research, Saudi Arabia is a major oil producer because it produces way more than the people can consume, Nigeria is not a major oil producer because it can't even refine it's own oil even though it is blessed with abundant oil. Check your beloved wikipedia and compare oil production and oil consumed by each country that I've described and then come back and tell me who's the major oil producers, case closed!

abbey621:

I live in the U.S and  and I'm well versed in research, when I say something, believe me it can be backed with cold hard facts.

You say the Saudi Arabians are major oil producers because they produce more than they consume. While the Americans are not because they consume more than they produce. Saudi's population is 29 Million. Women don't really drive. They don't need as much diesel to power their machines or oil to heat their homes. USA's population 300 Million and counting. See why they consume more?

This boy you wan kill me  Just in case you hate Wikipedia. Check out CIA's fact book oil production ranking https://www.cia.gov/library/publications/the-world-factbook/rankorder/2173rank.html

You say the Saudi Arabians are major oil producers because they produce more than they consume. While the Americans are not because they consume more than they produce. Saudi's population is 29 Million. Women don't really drive. They don't need as much diesel to power their machines or oil to heat their homes. USA's population 300 Million and counting. See why they consume more?

This boy you wan kill me Just in case you hate Wikipedia. Check out CIA's fact book oil production ranking https://www.cia.gov/library/publications/the-world-factbook/rankorder/2173rank.html

You're still barking up the wrong tree pal, regardless of population, for you to be considered a major oil producer you must be able to produce more than you consume , use this analogy, your family cows produces 2 gallons of milk per day, your family consumes 4 gallons per day, would you consider your family a major milk producer. It's the simplest of facts, if you don't get that then I'm sorry, I can't explain any simpler.

^^^^Please show me a list of major oil producers in the world without the USA in it. I think you confuse "major oil producer" with "major oil exporter". Fix that.

Insert Quote
^^^^Please show me a list of top oil producers in the world without the USA in it.

I'm done talking to you, you refused to learn, after all the examples and explanations, you still chose to be deluded, it's okay keep believing the U.S is a major oil producer, if it would satisfy your essence,

GEJ scam will not succeed

abbey621 = fail

GEJ why are u deceiving us Remember you had no shoes before u became president. Now you don't show any sympathy that u started from the scratch. U rather portray signs of a weak president. If we had a second chance to vote you certainly can't be considered for even the least position. Our hearts bleed with your actions

mrs nwalor:

GEJ why are u deceiving us Remember you had no shoes before u became president. Now you don't show any sympathy that u started from the scratch. U rather portray signs of a weak president. If we had a second chance to vote you certainly can't be considered for even the least position. Our hearts bleed with your actions

Another subsidy beggar.

@ logic minds- I am not begging for subsidy. I would rather have preferred it was done gradually I.e instead of introducing it 100% we start with say 50% n so on. Or start the refineries or roads and etc. the impact is too much. I personally strongly agree with the removal of subsidy but the implementation shld av Ben gradual. More over he wld av won us over if they av started a lot infrastructure before this.

Good times.

Jonathan was destined to bankrupt this nation.

musKeeto:
Good times.