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Nairaland Forum / Nairaland / General / Business / Saudi Prince: Oil Will Never Return To $100 (27506 Views)
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Re: Saudi Prince: Oil Will Never Return To $100 by tola9ja: 11:02am On Jan 13, 2015 |
Re: Saudi Prince: Oil Will Never Return To $100 by 100Cents: 11:03am On Jan 13, 2015 |
juman: This is not a party matter. I know you all wanna sell your party. Most of these men are lacking in mental capacity. A man cannot give what he doesn't have. More pitiable for those sponsoring buhari based on popularity alone. Yet he is a mental pauper. Then the problem of corruption which is a general problem from the highest office to the lowest one in Nigeria.. 1 Like |
Re: Saudi Prince: Oil Will Never Return To $100 by kenex4ever(m): 11:03am On Jan 13, 2015 |
2sExy1:Words of a mediocre, must u attribute every thing to ur leaders? Is it d president of US dat set up all those technology companies they have? We r virtually "low brains" in africa dats why we can't survive without natural resources and it has nothing to do with government. The rich ones like dangote, instead of dem investing in technology they r investing 85% on importation and 15% in sugar and noodles production 5 Likes |
Re: Saudi Prince: Oil Will Never Return To $100 by juman(m): 11:04am On Jan 13, 2015 |
This one nigeria lack serious minded leaders that can direct the country to the path of greatness whereby other areas of economics would be explored and exploited. We don't have leaders like chief awolowo. 2 Likes |
Re: Saudi Prince: Oil Will Never Return To $100 by 100Cents: 11:05am On Jan 13, 2015 |
onyxo76: What are you trying to say ? |
Re: Saudi Prince: Oil Will Never Return To $100 by kenex4ever(m): 11:06am On Jan 13, 2015 |
juman:Words of a mediocre, must u attribute every thing to ur leaders? Is it d president of US dat set up all those technology companies they have? We r virtually "low brains" in africa dats why we can't survive without natural resources and it has nothing to do with government. The rich ones like dangote, instead of dem investing in technology they r investing 85% on importation and 15% in sugar and noodles production |
Re: Saudi Prince: Oil Will Never Return To $100 by gambit10: 11:08am On Jan 13, 2015 |
And who says we don't need buhari ...I am not campaigning here but going by the topic, I think we are in for a tough time as a nation...how do we intend to fund our budget if the price of oil is at an all time low?...I feel we need somebody to help us collect all the money looted by those rogues and who else can help us do that ? That's where buhari comes in ...sentiment aside |
Re: Saudi Prince: Oil Will Never Return To $100 by Nobody: 11:08am On Jan 13, 2015 |
Spydamannn: Oil reliant economies, even the boom ones, are not stable economies.....as the article quoted below puts it... This may not be a problem in the short-term so long as the country has enough foreign exchange to pay for the imports. The depression in the non-oil export sector and the boom in the other two sectors have medium to long term implications for the economy because the oil windfall will not be permanent given the volatility, unpredictability and exhaustibility of crude oil. For instance, if there is a decline in oil prices and oil revenue, the lagging and collapsing non-oil export sector will not be able to compensate for the drop in oil revenue while domestic demand for the non-traded goods and imports remain sticky. Consequently, the country will be forced to borrow from the international financial market to compensate for the decline in oil revenue. Over time, external debts will increase and so will the debt service obligations. Even when oil prices go up later and there is another round of oil windfall, it is difficult to correct the earlier damage or distortions created by the initial or previous oil windfall. In some cases, the oil exporting country may be forced to adopt some form of structural adjustment program (SAP) to correct such distortions or imbalances. Some of these SAPs are painful and may increase the prevalence, depth and severity of poverty. Infact, oil economies that do well are 1.Have populations below 15 million (Saudi and UAE and Norway) 2.Have strongly diversified economies....especially industrial economies. (Norway again). 1 Like |
Re: Saudi Prince: Oil Will Never Return To $100 by 100Cents: 11:08am On Jan 13, 2015 |
kenex4ever: Exactly, our problem is over dependence on importation. Everybody wants to be an importer. Without seeing that, that is why Naira is losing value everyday What are we exporting ? NOTHING !. 2 Likes |
Re: Saudi Prince: Oil Will Never Return To $100 by daey118(m): 11:09am On Jan 13, 2015 |
odimbannamdi:it jst breaks my heart to know that we have intelligent minds like this in nigeria..but they wont let you go for presidency..instead they' install ultra.weak shallow old minds and...laterthey'll be giving speeches and be saying nigeria is for the youths....deep analysis jare my brother...one orijin for you...infact one one orijin for everybody wey sabi yu sef... 2 Likes |
Re: Saudi Prince: Oil Will Never Return To $100 by BuddhaPalm(m): 11:09am On Jan 13, 2015 |
The sky is falling... |
Re: Saudi Prince: Oil Will Never Return To $100 by onyxo76(m): 11:09am On Jan 13, 2015 |
100Cents:what i meant is that someone proposed 65 price for petrol but with the low demand for our crude in the international market even selling at 65 is still expensive for us here. |
Re: Saudi Prince: Oil Will Never Return To $100 by Nobody: 11:10am On Jan 13, 2015 |
Hence the seriousness to decimate isis who have caused the oil glut |
Re: Saudi Prince: Oil Will Never Return To $100 by onyxo76(m): 11:11am On Jan 13, 2015 |
100Cents:what i mean is with the way the demand for our crude is going even selling at 65 is still considered expensive. |
Re: Saudi Prince: Oil Will Never Return To $100 by juman(m): 11:11am On Jan 13, 2015 |
100Cents: I agree with you that all kinds of leaders in nigeria are unserious. But pdp has been in power at aso rock for more than 15 years and the country is going backward with great speed instead of moving forward, hence it makes a lot of senses to vote for another set of people to do things differently. |
Re: Saudi Prince: Oil Will Never Return To $100 by skerries: 11:12am On Jan 13, 2015 |
We will all suffer, because Nigerian's think from their back hole. All we want is already made money, short cuts for wealth and no sustainable plan for future. We respect those who steal from, we fight each other to defend their Loot, in name of tribe and region, while all their kids study and live a better life in abroad. Nigerian's behave the same, from political actors to street unchines Every body steal in Nigeria, from a common scam to looting the national treasury What we have today is a warp nation, where 109 senators, and 36 governors are billions yet we still vouch for in election to loot more. Shame on you lots. 3 Likes |
Re: Saudi Prince: Oil Will Never Return To $100 by Spydamannn(m): 11:12am On Jan 13, 2015 |
bushdoc9919:you just opened my eyes...thanks |
Re: Saudi Prince: Oil Will Never Return To $100 by ThoniaSlim(f): 11:13am On Jan 13, 2015 |
Now we can go back to our groundnut pyramids and palm oil. ![]() 1 Like |
Re: Saudi Prince: Oil Will Never Return To $100 by YSA06(m): 11:13am On Jan 13, 2015 |
In nigeria, we pay the same pr/ltr plus naira being devalued, double punishment to nigerians |
Re: Saudi Prince: Oil Will Never Return To $100 by AZeD1(m): 11:16am On Jan 13, 2015 |
bushdoc9919:OPEC as an organisation supplies about 20% of the world's crude oil. You won't want to piss of your biggest member. Besides there's nothing OPEC can do, cutting oil quotas to raise the price plays into the hand of shale oil producers. 1 Like |
Re: Saudi Prince: Oil Will Never Return To $100 by Lesgupnigeria(m): 11:17am On Jan 13, 2015 |
bushdoc9919:my brother, agriculture is the answer. if the agro-raw materials are not available or sufficient,how will there be industrial development. Check the agric section to see my articles and other articles that will help you know revolution thats going on in the agric sector. thanks. |
Re: Saudi Prince: Oil Will Never Return To $100 by Nobody: 11:20am On Jan 13, 2015 |
ThoniaSlim: Not going to work for the following reasons 1.No guaranteed market. This isn't the 1960's...when the UK bought all our groundnuts...this is today...when the UK can buy from other markets. 2.Poor production...plus the fact that we are not a nation of large scale commercial farming.....which is what we need to become a major cash and food crop exporter. 3.Everybody does it. Every country plants and sells the crop. So, there is a glut in the market and prices stay low.(unless you are lucky to have famine in one of your competing countries). What we should be doing is going forward to industries. We should be manufacturing cheap industrial products...like bikes, cars, radios,etc for the developing world market. We should be a world leader in technical innovation, and in computing/IT. We should be also leading in biotech/health. Because....selling raw materials does not work in the long term (Almost all African countries that rely on agric also have one thing in common...their annual budgets are provided in part by aid agencies..because they do not have enough cash to fund the thing). 6 Likes 5 Shares |
Re: Saudi Prince: Oil Will Never Return To $100 by justscorch: 11:20am On Jan 13, 2015 |
Wetin concern me dem no kukuma share the oyel money reach my side,I just dey vex say the communities wen provide Naija oyel all this year's still dey live in poverty 2 Likes |
Re: Saudi Prince: Oil Will Never Return To $100 by Nobody: 11:22am On Jan 13, 2015 |
Lesgupnigeria: Yes....it is, so long as you are using it to fuel industries. Most Nigerians, on the other hand, prefer we sell our cocoa and groundnuts and palm oiland share the money....like the good old days of the 1960's. But...them days are long past. Where is my made in Nigeria airplane? |
Re: Saudi Prince: Oil Will Never Return To $100 by Bizibi(m): 11:24am On Jan 13, 2015 |
bushdoc9919:trust me they won't,they(u.s.a) will compromise in this situation because the same u.s have heavy investment in the gulf via their Republican top shot and few democrats,it is just a matter of time things will normalize again....even the Russians can't do anything about it......it has happened before....everybody knows things will normalize later, |
Re: Saudi Prince: Oil Will Never Return To $100 by Nobody: 11:24am On Jan 13, 2015 |
100Cents: |
Re: Saudi Prince: Oil Will Never Return To $100 by 9jatatafo(m): 11:30am On Jan 13, 2015 |
And they talk of subsidy. Waiting to see what happens after the elections |
Re: Saudi Prince: Oil Will Never Return To $100 by synergycom19: 11:38am On Jan 13, 2015 |
Ngozi Iweala, always organized or attends seminars years ago where she talked on diversifying the Economy,yet she did nothing about it instead she was pushing for increase in tge price of fuel during the oil boom |
Re: Saudi Prince: Oil Will Never Return To $100 by Ufranklin92(m): 11:38am On Jan 13, 2015 |
motherlode: You are so daft |
Re: Saudi Prince: Oil Will Never Return To $100 by Missy89(f): 11:40am On Jan 13, 2015 |
If the simpleton cannot manage Nigeria at a time when the oil prices was over $100, What can he do with $45 a barrel? 1 Like |
Re: Saudi Prince: Oil Will Never Return To $100 by synergycom19: 11:44am On Jan 13, 2015 |
God please let it stay below $45,so tha they don't increase fuel upon your people |
Re: Saudi Prince: Oil Will Never Return To $100 by Weah96: 11:47am On Jan 13, 2015 |
The leadership of this nation will still misappropriate the oil revenue, whether oil is $45 or $150. 1 Like |
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