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Nairaland Forum / Nairaland / General / Business / Saudi Prince: Oil Will Never Return To $100 (27507 Views)
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Re: Saudi Prince: Oil Will Never Return To $100 by Nobody: 11:55am On Jan 13, 2015 |
tola9ja: So brilliant. Honestly, I love that Adeola girl die. Missy89: Help me ask them o 2 Likes |
Re: Saudi Prince: Oil Will Never Return To $100 by osifred(m): 11:56am On Jan 13, 2015 |
Tell this to Buhari who said he will stabilize global oil price. 1 Like |
Re: Saudi Prince: Oil Will Never Return To $100 by nijanigga: 11:57am On Jan 13, 2015 |
I warned you several times last year, go and read my posts. |
Re: Saudi Prince: Oil Will Never Return To $100 by fairheven: 12:04pm On Jan 13, 2015 |
There is a political angle to this whole bru haha that some ppl are not lookin at.. First,Saudi Arabia with serious pressure from US,has vehemently refused to cut output,so as to make effective the American an western led sanctions on Russia..because Russia's economy is overly dependent on oil and gas. Secondly,by so doing also,Iran..which happens to be a regional rival to the Saudis will also suffer economic decline..its all a game of wits an skillful manoevering |
Re: Saudi Prince: Oil Will Never Return To $100 by Nobody: 12:21pm On Jan 13, 2015 |
ThoniaSlim: I work in the palm oil industry. Nigeria cannot, I repeat CANNOT compete globally in palm oil. That throne was taken by Asia a LONG time ago. 9 Likes |
Re: Saudi Prince: Oil Will Never Return To $100 by Enjoymentgalore(f): 12:23pm On Jan 13, 2015 |
In all of these, why is our own pump price not tumbing? At $45, FG have no excuse anymore. We should be buying pump price at N80 Petrol, N100 for Diesel, and N90 for Kerosine or thereabout. Now waiting for Minister of Finance to show her face again, and explain....to Zombies (as she thinks). |
Re: Saudi Prince: Oil Will Never Return To $100 by Enjoymentgalore(f): 12:26pm On Jan 13, 2015 |
In all of these, why is our own pump price not tumbing? At $45, FG have no excuse anymore. We should be buying pump price at N80 Petrol, N100 for Diesel, and N90 for Kerosine or thereabout. Now waiting for Minister of Finance to show her face again, and explain....to Zombies (as she thinks)... |
Re: Saudi Prince: Oil Will Never Return To $100 by wordcat(m): 12:37pm On Jan 13, 2015 |
iykofias: No, This is a Good News for Nigerians and Bad News to her corrupt leaders. 1 Like |
Re: Saudi Prince: Oil Will Never Return To $100 by Nobody: 12:40pm On Jan 13, 2015 |
fairheven: Actually, the truth is much different. Over the last decade,America has been becoming sufficient in oil production....which has led to it becoming less dependent on Saudi oil. Thus the Saudis are promoting a glut in oil supplies from OPEC so as to bankrupt the US shale oil producers....who are responsible for American self sufficency in oil. And BTW....the average American and their government prefer low international oil prices...because it means the average american can buy fuel cheap. That is the real reason why the US wants to keep oil prices down....voters. In my opinion....any country that says it is relying on oil is mis-advised. Russia in particular has enough engineering and scientific knowhow to develop an oil free economy....and so too does Iran. Yet...they prefer oil because oil brings in fast money. Which leads me to point 2. Ten years ago....if I told you that countries like Cuba, Uganda, Zambia, etc would discover oil....you would be laughing at me. Not anymore. New oil fields are being discovered every day. There is also the potential of alternative sources of energy...like green energy.Infact, many African countries have people looking for oil all over. So...no anti-Russian plot. Especially as the Saudis themselves have said they are doing it to fight American oil companies....and when Vladimir Putin spends the first part of a press conference lamenting that he did not diversify his economy from oil. Looks like a lot of people have not learned anything from the last mega drop in oil prices in the 1980's. So....Nigeria should forget oil. But you Nigerians do not want to work for your money. You all want your cake at the right time every am. That is why you shout ''Fiscal Federalism'' (ie a big slice of the cake) and ''Oil belongs to all of us'' rather than ''education, savings and innovaiton''. Oil is a curse. 6 Likes |
Re: Saudi Prince: Oil Will Never Return To $100 by wordcat(m): 12:43pm On Jan 13, 2015 |
Enjoymentgalore: The price of AGO has dropped to N105 per litre as at today. You can even get at N101 in some depots like Capital Oil & Gas and Ibeto. |
Re: Saudi Prince: Oil Will Never Return To $100 by Nobody: 12:46pm On Jan 13, 2015 |
kenex4ever:You are daft for calling my words mediocre... cos no one survive in an inhabitable terrain, slowpoke. if only your bean sized brain can process that. ![]() Could those companies succeed if the US government didn't support them by providing enabling environment? 1 Like |
Re: Saudi Prince: Oil Will Never Return To $100 by Nobody: 12:53pm On Jan 13, 2015 |
chadnezzar0worl: [size=20pt]LMAO... GOD BLESS YOU BRO... NO MORE "NA OUR OYEL"[/size] 1 Like |
Re: Saudi Prince: Oil Will Never Return To $100 by Nobody: 12:58pm On Jan 13, 2015 |
kenex4ever:SHOW ME THE ONE YOU HAVE INVESTED IN? START WITH YOURSELF BEFORE POINTING FINGERS |
Re: Saudi Prince: Oil Will Never Return To $100 by Swiftboy(m): 1:04pm On Jan 13, 2015 |
motherlode:but is PGEJ not doing that already? You dont watch news,neighter read thread other than Nairaland's first page,how will you know what government is doing? I guess you've been bought with APC-Buhari's propaganda. Read about the transformation agenda and understand. Thanks. ![]() |
Re: Saudi Prince: Oil Will Never Return To $100 by motherlode: 1:06pm On Jan 13, 2015 |
Ufranklin92:you just wished me what you wished for yourself! ![]() |
Re: Saudi Prince: Oil Will Never Return To $100 by Andibot(m): 1:08pm On Jan 13, 2015 |
All this noise because a man has spoken? Who is he to speak when d lord has not spoken? Fellow Nigerians u have no need to fear. Such was said during d global economic meltdown. Yet we survived it. It does not actually mean we shouldn't b proactive buh for d fact dat it has happened, the lord will see us through. |
Re: Saudi Prince: Oil Will Never Return To $100 by Nobody: 1:08pm On Jan 13, 2015 |
bushdoc9919:Sorry to say , but your analysis and assertions are flawed, especially your number 3. Check out tradekey.com and see what people are doing. I wont say no more. |
Re: Saudi Prince: Oil Will Never Return To $100 by Nobody: 1:09pm On Jan 13, 2015 |
nijanigga:bros, who are you referring to.. lol |
Re: Saudi Prince: Oil Will Never Return To $100 by Ahmeduana(m): 1:10pm On Jan 13, 2015 |
2sExy1:Buhari Will Stablize The Price If Elected!! Yeye Dey Smell. |
Re: Saudi Prince: Oil Will Never Return To $100 by fairheven: 1:21pm On Jan 13, 2015 |
bushdoc9919: Shale oil is not yet a treat to conventional oil and gas industry. Belif it or not the Saudis are workin with the Americans to make western sanctions on Russian an Iran more impactful..even Iranian foreign minister recently confirmed it..wait an see,the moment the Russians stop meddling in the politics of Ukraine,the sanctions will be lifted an the saudis will cut their oil output "mark my words" The more reason Saudis don't realy care about wt happens to international oil prize..it that they have got enof external reserve,an care-less about public unrest.. About American preferring lower international oil..that is not tenable because currently the American government is producing more oil than it can consume an has more reserve than any other,now they are even thinking of export as the moratorium law on oil exports is about been repealed. |
Re: Saudi Prince: Oil Will Never Return To $100 by ogaprime(m): 1:22pm On Jan 13, 2015 |
... 1 Like
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Re: Saudi Prince: Oil Will Never Return To $100 by piagetskinner(m): 1:24pm On Jan 13, 2015 |
Bring back industrial revolution |
Re: Saudi Prince: Oil Will Never Return To $100 by DNDROID(m): 1:33pm On Jan 13, 2015 |
2sExy1:that's y putting a 70+ yes old man in power will be ultimate suicide...... APC fall all Nigerians hands... 2 Likes |
Re: Saudi Prince: Oil Will Never Return To $100 by 100Cents: 1:33pm On Jan 13, 2015 |
wordcat: AGO meaning diesel ? So Ibeto imports diesel too ? |
Re: Saudi Prince: Oil Will Never Return To $100 by DNDROID(m): 1:36pm On Jan 13, 2015 |
piagetskinner:please what will you like us to produce? If you had the power: what industries will you start immediately? 1 Like |
Re: Saudi Prince: Oil Will Never Return To $100 by Onegai(f): 1:38pm On Jan 13, 2015 |
2sExy1: And people I know in the large-scale Agricultural business in Nigeria are pulling out. Nigeria isn't mechanised and rarely does commercial farming (even large fertilizer processing companies are not making money in Nigeria), they cannot compete with the buyers who have acres of mechanised farming in Asia. You are looking at the bottom of the table and seeing people make N50,000-N250,000 and shouting "Halleluyah" when those that invested millions are looking for ways to escape because your govt is giving its cronies like Dangote excuse to bankrupt them and large areas of arable land in the Middle Belt and North are getting more unstable politically and ethnically. Nigerian crops are not worth the international value they're telling you (not unless you grow something rare that the whole world needs, which you don't). Other Agrarian African countries outsell us and they still survive on foreign aid. Why am I even talking, all the best exporting Cocoa, Groundnut and Shea Butter! |
Re: Saudi Prince: Oil Will Never Return To $100 by Monarchmindset(m): 1:43pm On Jan 13, 2015 |
odimbannamdi:You've said it All... |
Re: Saudi Prince: Oil Will Never Return To $100 by Edusouls(m): 1:43pm On Jan 13, 2015 |
danger danger wahala dey, nigeria overdependence on oil money don get k leg.. Looting of oil money will soon come to an end,cos there is no money to loot again,nigerian economy go collapse kpata kpata, no be oil we dey get money from..? Im go better that way... |
Re: Saudi Prince: Oil Will Never Return To $100 by duni04(m): 1:46pm On Jan 13, 2015 |
Everybody has forgotten 2008. The price of oil will rebound when industrial output picksup world wide. There is plenty of capity to absorb all the oil the world is producing, even with Americas shale oil. We just need wait till worldwide economic growth spurs demand for oil. Saying oil will not touch 100dpd is akin to saying China, India, Russia, the EU or even Nigeria will never do 10%+ growth again. No mind this Saudi abokî, him no sabi anything ![]() |
Re: Saudi Prince: Oil Will Never Return To $100 by Nobody: 1:47pm On Jan 13, 2015 |
DNDROID:no b lie... I wanted Fashola but it's all political to get vote from the North if you look at it critically. I just hope that the General will work with member of his cabinet by being flexible to accept fresh ideas from the likes of Fashola who would be working with him. That's the only I see him making giant strides... 1 Like |
Re: Saudi Prince: Oil Will Never Return To $100 by Nobody: 1:50pm On Jan 13, 2015 |
Onegai:Agreed that we do not practice mechanized farming but who is to be blamed for that? my post above was negating the initial stance that there is no market for farm produce. |
Re: Saudi Prince: Oil Will Never Return To $100 by ernieboy(m): 2:10pm On Jan 13, 2015 |
kenex4ever:u are even the bigger mediocre, do u know what it takes to even setup a small factory in nig? U will have to first setup a power plant or u are not serious, this effectively doubles your startup capital |
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