$20 per barrel for sure...

This US crude oil they are talking about here is it different from shale oil?

Time to stop economy diversification on PAPER...Real Diversification Should Happen Now without Excuse....Else, Na to dey start to drink crude oil when there will be nothing to eat

braine:
When a budget was put in place by NNPC for exploration in the North, Nigerians were screaming that the world has moved onto renewable energy.



Anyway, this just proves America as an hypocrite after signing and hailing the Paris Agreement on Climate change.

Mehnnn! Your supposed to be looking forward to Msc and you think like this?
You think climate change is about cutting fossil fuels completely. Smh. It is meant to regulate greenhouse gas emissions in various countries and more.

Alternative energies like solar power and the electric cars are very expensive in the world we live in right and not satisfying.
If you think the Paris agreement was about cutting crude oil sales then you don't know anything.

A world with less dependence on crude oil is not foreseeable in the next 30 years.

NORAD:
The United States Congress has lifted the 40-year-old ban on the export of the country’s crude oil, as part of an omnibus budget bill.


Lifting the oil export ban, which was one portion of the $1.1tn spending bill that sailed through Congress on Friday, marks a historic shift for the booming US oil industry.


The Senate, in a 65-33 vote, approved lifting the ban, while the House of Representatives passed the legislation earlier in the day by a 316-113 tally.


President Barack Obama later signed the 2016 spending bill, which includes a provision that would allow the export of US crude for the first time in more than 40 years.


The Chairman of the Senate Energy and Natural Resources Committee, Lisa Murkowski, hailed the passage of legislation that would lift the 40-year-old ban on domestic crude oil exports.


“By lifting the domestic crude oil export ban, we are sending a signal to the world that our nation is ready to be a global energy superpower. With crude exports comes job creation, economic growth, new revenues, prosperity, and enhanced energy security for our allies and ourselves,” Murkowski said.


“The omnibus may be a short-term spending bill, but thanks to this provision it will deliver long-lasting benefits for our nation and the world.”


Murkowski first proposed lifting the ban on crude oil exports in January 2014 and since then has built a solid case for modernising the nation’s energy policies.


Congress, concerned about US dependence on imported oil, imposed the crude oil export ban after the Arab oil embargo of the early 1970s that sent gasoline prices soaring and contributed to runaway inflation.


Arab members of the Organisation of the Petroleum Exporting Countries imposed the embargo following the US decision to re-supply the Israeli military during the 1973 Arab-Israeli war.


US oil producers will now be able to sell crude to the already saturated international market.

The bulk of US oil comes from shale producers. Production and exploration companies argued the ban – imposed during the Arab oil embargo in the mid-1970s – was outdated and unnecessary.


Opponents claimed that lifting the ban would lead to the loss of oil refining jobs and would be bad for the environment.


As a trade-off for lifting the ban, the spending bill includes tax breaks for solar and wind power and a pledge by Republicans not to block a $500m payment to the UN Green Climate Fund.

http://www.punchng.com/us-lifts-40-year-old-ban-on-crude-oil-exports/

Now this is a country that think of its citizens! They also think on short term and long term!
We all know USA, their coming out now will be the bomb!
Most countries would want to patronize them!
While our wicked and selfish leaders are busy enriching themselves with Nigerian oiye! It is well!

asha80:
This US crude oil they are talking about here is it different from shale oil?

yes. Crude oil was first discovered in the US before any other place in the world and they developed into a more systematic venture after then.

Then 40 years ago, the export of crude oil was stopped.

There has been a debate on whether to lift the ban or not for more than 2 years now and it finally won a vote which means less business for Nigeria. Iran too will be getting into the market when their ban is lifted.

Saudi Arabia is the world's largest oil producer; now add that to US which was the largest producers pre dating crude oil discovery then add another larger producer such as Iran and you see that Nigeria has no customer in the coming days because virtually everywhere you look now, there is oil, so much oil that has made the black gold less valuable.

For 40 years the Nigerian government couldn't achieve anything, the worst being the GEJ era when oil sold at an all time high. The man was busy sharing dollars at campaign ground, mostly money meant for national use as the Dasuki case has revealed.

What a wicked leaders that should be stoned to death.

Nigeria don enter one chance oook

This will make oil prices to go down to 20$ and that means more suffering for oil producing countries.
The solution is that all the producing countries should meet together and decrease their oil production in order to scale down the already over-saturated market.
The PROBLEM IS WILL THIS COUNTRIES PUT ASIDE THEIR INTEREST OR GREED

babadee1:


This is foolishness. To think that God is fighting for his people by afflicting them with economic hardships.

Just as Isaac had bountiful harvest in the days of famine, so shall those who voted based on God's conviction will escape Buhari's bad policies once they are willing to constantly pray.

I stand to be corrected by God if I am wrong

The fact remains that


The Grace of God is not with Buhari.

Go and pray to find out for yourself.

East2West:



Sir. Such comments as above are d ones dt make d unbelievers take God words lightly. Bringing His name to justify mundane things is not necessary at all. We have nations without God dt are yet regarded as successful in ds world. Is He selective in His fights?
U even used d name "God Almighty" in d same context with "God fighting back". Do u really kno d import of d word God Almighty?. And d other threw in God's grace just because USA lifted ban on oil export.

I guess dt same God in His Word instructs u to pray for ppl in authority and leaders. I guess it all be great if we stick to such instructions else we drag His name into wat is not and wat is not true. Pls lets set aside emotions and do His word and not drag spirituals into human sentiments and earthly achievements.

By this time next year, you will know between me and you who is right

For the mean time, keep following a President who forced himself into power without the consent of God

Go to YouTube and watch how he instigated post election violence and up to this day he has not apologized for it


" An attack on BH is an attack on the North." Buhari

stereo:

Mehnnn! Your supposed to be looking forward to Msc and you think like this?
You think climate change is about cutting fossil fuels completely. Smh. It is meant to regulate greenhouse gas emissions in various countries and more.

Alternative energies like solar power and the electric cars are very expensive in the world we live in right and not satisfying.
If you think the Paris agreement was about cutting crude oil sales then you don't know anything.

A world with less dependence on crude oil is not foreseeable in the next 30 years.

Are you serious? I marvel at your level of ignorance in happenings around the world.

It would interest you that Costa Rica achieve a 99% use of renewable energy for their Electricity. What that tells me that use of other means of energy is very possible.

Cutting of crude oil exploration and investment in other sources of energy was the main idea of the agreement. Over 80% of greenhouse gases are as a result of fossil fuels.

Dependence on oil won't come to an abrupt end, but flooding the market with it won't make it any easier coz I'm assuming you already know the amount of oil deposits America has.

You really need to update yourself.

braine:



Are you serious? I marvel at your level of ignorance in happenings around the world.

It would interest you that Costa Rica achieve a 99% use of renewable energy for their Electricity. What that tells me that use of other means of energy is very possible.

Cutting of crude oil exploration and investment in other sources of energy was the main idea of the agreement. Over 80% of greenhouse gases are as a result of fossil fuels.

Dependence on oil won't come to an abrupt end, but flooding the market with it won't make it any easier coz I'm assuming you already know the amount of oil deposits America has.

You really need to update yourself.

The most energy demanding sector is in mobility - cars, jets, trains, heavy duty vehicles are driven by fuels.

You mentioned Costa Rica, while I believe this is possible I also believe the capacity generated is likely to be very low and this only applies to their power sector.

Crude oil continues to drive economies and can never be cut in years to come so their agreement can't have any immediate effect.

Fuel scarcity & poor economy in Nigeria alone should tell you that any short supply of crude oil means the world will suffer.
Regulating emissions is the most feasible right now.

So calling America hypocrites doesn't show you understand how it's supposed to play out.

I quoted you initially because you INSINUATED shutting down the oil industry as a result of the agreement which is totally unwise.

#Peace

EternalTruths:


By this time next year, you will know between me and you who is right

For the mean time, keep following a President who forced himself into power without the consent of God

Go to YouTube and watch how he instigated post election violence and up to this day he has not apologized for it


" An attack on BH is an attack on the North." Buhari

Bro. Not here to judge who is right or wrong between u and d President o, am only concern about u using d name of God in vain.
Can u hear ursef. He forced himself against d Almighty? Haba. Pls leave God out of ds democracy wahala. God doesn't vote neither can He be voted for.

Good day.

East2West:


Bro. Not here to judge who is right or wrong between u and d President o, am only concern about u using d name of God in vain.
Can u hear ursef. He forced himself against d Almighty? Haba. Pls leave God out of ds democracy wahala. God doesn't vote neither can He be voted for.

Good day.

Please go and sit down

When you are mature in the Spirit, we will talk.


For the mean time


Visit YouTube on Buhari's call for violence

Buhari has ill-luck, the old man lacks favor.

EternalTruths:


Please go and sit down

When you are mature in the Spirit, we will talk.


For the mean time


Visit YouTube on Buhari's call for violence

Its improper when u sit behind ur keyboard and assume u can address anyone who is correcting or disagrees wit u anyhow u like. U may regret such if u have opportunity of meeting them face2face. Forum anonymity is not really as anonymous as u think.

I pray i ll never reach such spiritual maturity that will make me disobey God's word, mock His name among d heathen and neglect scriptural guidance.
Ur spiritual maturity should b evident in ur conduct, utterances and godly wisdom. Yet u r adamant on publicising a YouTube video for me to justify ur misconduct in calling God's name in vain.

Kontinu, just make sure it doesn't turn out to be another John d Baptist and Herod's case o. We can't afford to loose d head of a spiritually matured man.