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Global Crude Oil Prices Rises Above Budget Benchmark - Politics (3) - Nairaland

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Re: Global Crude Oil Prices Rises Above Budget Benchmark by Fablonwa: 7:54am On Mar 08, 2016
Emmahunk:
Guess PMB's numerous trips are beginning to yield results.
If only we can jettison tribal / religious differences and more importantly, biased criticisms, then come together as one. Honestly, I see light at the end of the tunnel for this Country called Nigeria.

Another propagandist. How can Buhari's trips affect global price of crude oil. Do you want to tell me that the presidents of other oil exporting countries have to be on flight daily too or is the price increase only for Nigerian crude oil? You guys should stop deception and say things as they are. Using propaganda to govern a country of over 170million Nigerians is the worst thing that can happen to Nigeria.

3 Likes

Re: Global Crude Oil Prices Rises Above Budget Benchmark by amagunnerfan: 7:54am On Mar 08, 2016
tuniski:

Delusional!
No nigerian wishes nigeria bad. Buharists are no more patriotic than those who don't believe in buhari, it is called democracy not a test of patriotism!
Speak for yourself mate. Many, especially those from that side, wish Nigeria bad just so they can be justified.

1 Like

Re: Global Crude Oil Prices Rises Above Budget Benchmark by Johnnoo(m): 7:57am On Mar 08, 2016
Law of gravity says "anything that goes up must come down". Nigeria should diversify her economy for a better tomorrow... cool
Re: Global Crude Oil Prices Rises Above Budget Benchmark by Chrisx1x(m): 7:57am On Mar 08, 2016
repogirl:
E go com fall to $25 again tomorrow.
sister,watin we do u na.

1 Like

Re: Global Crude Oil Prices Rises Above Budget Benchmark by edoziebobbyyahoocom(m): 8:01am On Mar 08, 2016
Very soon with the advancement in technology for energy production, the world will no longer consider crude as a main stream for energy. Then we(Nigeria) will need a ''hail mary''.
It's better we start now in search of other means of revenue generation and stop checking everyday oil prices.

5 Likes 1 Share

Re: Global Crude Oil Prices Rises Above Budget Benchmark by redcliff: 8:01am On Mar 08, 2016
Standing5:
With this news and the hot weather i wonder how wailers will sleep tonight . . .

Lmao!!!

1 Like

Re: Global Crude Oil Prices Rises Above Budget Benchmark by Morountodun: 8:05am On Mar 08, 2016
RichYoungNigga:



I'm sick and tired of you niggas calling IPOB all the goddam time.
I guess you ain't concerned with the economy of your country, after you go dey call the government say them no provide work for you.
We were told that we are the leaders of tomorrow.
I now know the reason why a 79 year old man is the president of Nigeria, the so called leaders of tomorrow are busy calling wasting their time on Instagram, Facebook and Nairaland while the old men are ruling their country and stealing billions of dollars.

Look who is talkingsmiley

2 Likes

Re: Global Crude Oil Prices Rises Above Budget Benchmark by Morountodun: 8:07am On Mar 08, 2016
wapu:
Now they can finance the budget.
Can they stop the N50 postage stamp collection on accounts.

Nope!
Re: Global Crude Oil Prices Rises Above Budget Benchmark by repogirl(f): 8:11am On Mar 08, 2016
chally02:
The replies by some APC supporters are really funny, they seem to be attributing the rise in the price of crude oil to the presidents "waka about" forgetting that global price of crude oil is determined by the forces of demand and supply and not by a single man.

Anyway its a good news atleast there will be no room for the usual blame game if they don't perform.
zombies deceiving themselves since May 29, 2015 AD.

2 Likes

Re: Global Crude Oil Prices Rises Above Budget Benchmark by wristbangle: 8:12am On Mar 08, 2016
Stalwert:
God is with Nigeria and he will grant us the upper hand against ipob witches and pdp e rodents who wish day and night that we fall all because we asked for CHANGE

Standing5:
With this news and the hot weather i wonder how wailers will sleep tonight . . .

gringrin

1 Like

Re: Global Crude Oil Prices Rises Above Budget Benchmark by Nobody: 8:13am On Mar 08, 2016
NavierStokes:


There are no fundamentals to back this rise in prices, so we should be expecting a fall soonest. There will be a rise in prices surely, but this is not it. The world is still producing between 1 and 2 million bbls of excess crude a day. The storage at Cushing is already over 90% capacity and combined with that in the east, a whopping 88% of capacity, plus production declining at a sub-anticipated rate.

The estimated average price for the year is closer to $50. Both Democratic candidates have expressed reservations over the environmental cost of fracking, there has been a massive reduction in lease orders for fracking equipment creating an effective stock draw down period even were prices to rise enough to create a margin for fracked oil. Secondly, while there has been a dip in China 's growth, India is taking up the slack. Thirdly Saudi and Russian cut backs appear to be a long term strategy and will begin to bite as the weather becomes warmer and gasoline usage spikes. Finally, Illegal oil sales plus inefficiencies and corruption cost Nigeria about $40 per barrel during the last administration reducing effective price per barrel to just above $50. In dealing with these two evils this administration will be able to easily replicate 2015 oil revenues and boost these with significant domestic revenue through tax and plugging of leaks. Things look much worse than they are.

The patient will make a gradual but sustained recovery.
Re: Global Crude Oil Prices Rises Above Budget Benchmark by repogirl(f): 8:14am On Mar 08, 2016
edoziebobbyyahoocom:
Very soon with the advancement in technology for energy production, the world will no longer consider crude as a main stream for energy. Then we(Nigeria) will need a ''hail mary''.
It's better we start now in search of other means of revenue generation and stop checking everyday oil prices.
your head dey dia! Crude will soon get worthless or not worth much.

Countries with vision are planning towards the future while we are still holding on to crumbling crumbs.
Re: Global Crude Oil Prices Rises Above Budget Benchmark by wristbangle: 8:16am On Mar 08, 2016
edoziebobbyyahoocom:
Very soon with the advancement in technology for energy production, the world will no longer consider crude as a main stream for energy. Then we(Nigeria) will need a ''hail mary''.
It's better we start now in search of other means of revenue generation and stop checking everyday oil prices.

Spot on!
Re: Global Crude Oil Prices Rises Above Budget Benchmark by tete7000(m): 8:18am On Mar 08, 2016
amaechi1:
Those who are calling for the head of Mr President and his team for visiting the gulf nations should cover the faces in shame. You don't sit at home and play international politics. Life is in phase and nothing last for ever.

Nigerians, can we cement our differences and work for the progress of this project "the well being of every Nigerian".

God bless Nigeria.

I m sure you have not been following the developments in the oil market. If you have, you would have heard of production freeze at january level orchestrated by the venezuelan petroleum minister between saudi, russia, iraq and qatar with effort made to ensure iran and other producing nations joined in the deal. You would also have heard of the declining production of american shale oil. These and other speculation that producing nations may meet soon to discuss production cut are what push the price up not Buhari visit to the saudi 'monarch'. Collaboration between oil ministers is what yield results not political talk between a president and a king somewhere. If the market remain oversupplied, Buhari may talk with the king from now till he leaves power, the price will still not appreciate. Get your facts right.

3 Likes 1 Share

Re: Global Crude Oil Prices Rises Above Budget Benchmark by RichYoungNigga: 8:22am On Mar 08, 2016
Morountodun:


Look who is talkingsmiley

Sorry.
Can you just go
Re: Global Crude Oil Prices Rises Above Budget Benchmark by Morountodun: 8:23am On Mar 08, 2016
RichYoungNigga:


Sorry.
Can you just go

Nope

1 Like

Re: Global Crude Oil Prices Rises Above Budget Benchmark by Morountodun: 8:24am On Mar 08, 2016
repogirl:
your head dey dia! Crude will soon get worthless or not worth much.

Countries with vision are planning towards the future while we are still holding on to crumbling crumbs.

Too bad we forgot to tell GEJ all about itsad

1 Like

Re: Global Crude Oil Prices Rises Above Budget Benchmark by tuniski: 8:30am On Mar 08, 2016
amagunnerfan:
Speak for yourself mate. Many, especially those from that side, wish Nigeria bad just so they can be justified.
So today's buharists and incumbent wished nigeria bad while in opposition abi? Smh

No wonder they were playing politics with issue of national security and BBOG!
Wake up! No matter the level of disbelieve in buhari and the fierceness of criticism it is not same as wishing nigeria bad.

U simply don't have knack for democratic tenets. Intolerance of others is undemocratic and opposition politics ensure better performance cos left to zombies, buhari won't get 10% via praise singing.
Re: Global Crude Oil Prices Rises Above Budget Benchmark by emi14: 8:36am On Mar 08, 2016
NavierStokes:


There are no fundamentals to back this rise in prices, so we should be expecting a fall soonest. There will be a rise in prices surely, but this is not it. The world is still producing between 1 and 2 million bbls of excess crude a day. The storage at Cushing is already over 90% capacity and combined with that in the east, a whopping 88% of capacity, plus production declining at a sub-anticipated rate.
Re: Global Crude Oil Prices Rises Above Budget Benchmark by emi14: 8:38am On Mar 08, 2016
You guys should stop these unhealthy economic analysis that is not sustainable and leads to nowhere.
Re: Global Crude Oil Prices Rises Above Budget Benchmark by repogirl(f): 8:41am On Mar 08, 2016
Re: Global Crude Oil Prices Rises Above Budget Benchmark by loomer: 8:46am On Mar 08, 2016
amaechi1:
Those who are calling for the head of Mr President and his team for visiting the gulf nations should cover the faces in shame. You don't sit at home and play international politics. Life is in phase and nothing last for ever.

Nigerians, can we cement our differences and work for the progress of this project "the well being of every Nigerian".

God bless Nigeria.

So na buhari's visit improve oil price? Una funny for nigeria sha. The truth be say opec and the yeye members know wetin dem supos do for oil price to improve, them just dey drag leg

1 Like

Re: Global Crude Oil Prices Rises Above Budget Benchmark by repogirl(f): 8:50am On Mar 08, 2016
loomer:


So na buhari's visit improve oil price? Una funny for nigeria sha. The truth be say opec and the yeye members know wetin dem supos do for oil price to improve, them just dey drag leg
Booohari supporters grasping at straws since 29 May, 2015....

Booohari's body odour must work by force.
Re: Global Crude Oil Prices Rises Above Budget Benchmark by Nobody: 9:06am On Mar 08, 2016
americanigga:
Buhari is too powerful.
Do you know that other presidents including American president are afraid of him? Just one calculated move to Qatar he has increase the price of crude in the whole Universe

Guy.. You well?
Re: Global Crude Oil Prices Rises Above Budget Benchmark by tete7000(m): 9:07am On Mar 08, 2016
edoziebobbyyahoocom:
Very soon with the advancement in technology for energy production, the world will no longer consider crude as a main stream for energy. Then we(Nigeria) will need a ''hail mary''.
It's better we start now in search of other means of revenue generation and stop checking everyday oil prices.

Forget oil these yeye talk of oil losing relevance. Other forms of energy will come on stream but oil will maintain its percentage in the energy mix. Infact the demand for oil is projected to increase in future. The only issue for oil in future is that current events has made it clear to opec and other that any attempt to allow oil price unduly skyrocket will allow other hitherto dormant oil sources become economical to produce and thus render opec powerless. What you will see opec do from now is manage oil price within a range that ensure other oil sources and other energy sources remain uneconomical to deploy within the prevailing crude price.
Re: Global Crude Oil Prices Rises Above Budget Benchmark by vodkat: 9:09am On Mar 08, 2016
omenka:
Not sure I wanna celebrate this news. Much as I want sufficient inflow of forex for the country, I desire to see it come in through any other means than crude oil sales.

Our dependence on that substance is what's put us in the mess we find ourselves today. As long as the price keeps going up, our government might not see the

need to drastically push towards diversification.

Future price of oil is 5 dollars per barrel


Then earlier.nigeria get off oil dependency the better
Re: Global Crude Oil Prices Rises Above Budget Benchmark by vodkat: 9:16am On Mar 08, 2016
tete7000:


Forget oil these yeye talk of oil losing relevance. Other forms of energy will come on stream but oil will maintain its percentage in the energy mix. Infact the demand for oil is projected to increase in future. The only issue for oil in future is that current events has made it clear to opec and other that any attempt to allow oil price unduly skyrocket will allow other hitherto dormant oil sources become economical to produce and thus render opec powerless. What you will see opec do from now is manage oil price within a range that ensure other oil sources and other energy sources remain uneconomical to deploy within the prevailing crude price.

Dey there, there r people working 24/7 to make this a reality .

Do u know that a car can be powered by hydrogen.

only usa getting involved in fracking dropped price of oil from 100 to 30.

What happens when.Other countries start ?
Re: Global Crude Oil Prices Rises Above Budget Benchmark by vislabraye(m): 9:18am On Mar 08, 2016
tuniski:

Delusional!
No nigerian wishes nigeria bad. Buharists are no more patriotic than those who don't believe in buhari, it is called democracy not a test of patriotism!

Tell dem.

1 Like

Re: Global Crude Oil Prices Rises Above Budget Benchmark by Morountodun: 9:21am On Mar 08, 2016
repogirl:
People like you suffer a temporary and conveniently selective amnesia but follow these links to refresh your memory.

http://www.vanguardngr.com/2015/02/goodluck-jonathan-agriculture-revolution/

http://www.fmti.gov.ng/our-parastatals/168-jonathan-launches-nigeria-industrial-revolution-plan-nedep.html

http://www.thescoopng.com/tobi-adebowale-the-silent-achievements-of-goodluck-jonathan/

http://www.nigeriatradehub.gov.ng/News/tabid/98/entryid/198/revamping-nigeria-s-auto-industry.aspx

http://www.spotlightreports.com.ng/president-jonathan-commissions-100bn-naira-cement-industry-expansion-project/

After all this, your dullard came in to crash the economy in six months. Una weldone ooooo.

You suffer from amnesia. Yours is neither selective nor temporary.

What happened to the excess crude account OBJ established in his tenure? Despite the fact that oil sold for around $100/barrel, Jonathan did not add anything to the account, rather he depleted it. This was meant to be our saving grace. Jonathan is the main reason why we are here. The mor..on did not save for raining days. Naira fell when he was still there and it continued after his tenure. It wouldn't have been this bad if the m.oron had actually diversifed the economy and continued with the Excess crude account.

Also, Nigeria is not the only oil reliant country experiencing the economy crunch. Counties like Canada, Russia, UAE and Saudi are not left out. Don't make this about Buhari, it can be really annoying.

Stop trying too hard, this is as easy as ABC

1 Like

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