Between June and July 1925, Will Rogers (1879-1935) comedian, newspaper columnist, film and radio star, and political satirist revealed his encounter with the 30th President of the United States Calvin Coolidge. Asked how his funny stories were all thought up, Rogers a regular guest to the first family for light-hearted jokes replied: “I don’t make jokes, Mr. President; I watch the government and report the facts.”

English theologian, John Henry Newman (1801–1890) at the Oxford University Sermons on Faith and Reason, Contrasted as Habits of the Mind said that: “When men understand what each other means, they see, for the most part, that controversy is either superfluous or hopeless.”

For centuries it has been a transport of delight watching vessels on shipping lanes crossing bodies of water. Shipping as a private and highly competitive service industry is divided into liner service, tanker operation, tramp shipping and industrial service, and, all of which operate on certain well-established routes.

William Shakespeare, the all-time great English playwright and poet used the idealization of comedy to portray our world. A servant would dream of having greatness thrust upon him without imbibing the enterprise culture. In Illyria the plot set in the Twelfth Night would continue to play out in Nigeria.

President Muhammadu Buhari during the week visited the Netherlands. He may have been enthusiastic as he visited the home of global oil giants Royal Dutch Shell. His four-day visit to the Netherlands would have been one of the eventful periods in the last three years of his political reincarnation that he had sought cooperation and collaboration with friendly nations. Perhaps the Netherlands would have been his starting point based on petroleum historical ties of both nations.

It is another gladiatorial trade blow that is about to commence between two global economic giants: China and the United States.

As individuals and communities we are encouraged to share what we have with others. The love and care for neighbour is divine in nature. The concept of sharing is also not to encourage indolence. The Nigerian constitution authorized funds of the federation to be in a central pool to be distributed; to each according to an agreed formula.  That spirit of cooperation and solidarity had existed among the sub national governments since the First Republic.

The Organization of the Petroleum Exporting Countries, OPEC at its biannual conference at its headquarters in Vienna, Austria, on Friday, June22, 2018 analyzed oil market developments since the November 2017 meeting and reviewed the oil market outlook for the remainder of 2018.  The inventory overhang had fallen close to the target to reduce inventory and increase prices, so it agreed to increase crude oil output to stabilize the markets. The stance appeared to be against the deal of November 30, 2016 of the OPEC and non-OPEC producers led by Russia to curb high global oil stocks by about 1.8 million barrels per day, bpd until the end of 2018.

Politicking gets a kick start with the All Progressives Congress, APC organising a national convention this weekend to elect its national officers to midwife its campaigns. Other political parties would follow soonest. Scores of political parties and many politicos are jumping into the murky waters of 2019 electioneering that would be greatly influenced by critical national issues. The beauty of democracy is that it is determined by the majority. In essence, democracy is majority rule. In the Speech delivered by former United States Presisident, Jimmy Carter to the Indian Parliament on the 2nd of June 1978 he said that: “Democracy is like the experience of life itself—always changing, infinite in its variety, sometimes turbulent and all the more valuable for having been tested for adversity.” President Carter cannot be further from the truth as emergent aspirants and candidates mount the soapboxes in what would be expensive national campaigns. 

Last week the German Federal Ministry of Transport and Digital Infrastructure Andreas Scheuer, announced new subsidies for energy-efficient and low CO2 trucks. The country is promoting environmentally friendly vehicles and embracing natural gas as a solution to pollution. Under the scheme, the government will offer subsidies to buyers of gas; CNG-and LNG-fuelled heavy-duty trucks weighing more than 7 tons.

The 44th Summit of the Group of Seven, G7 industrial nations ends today. Canada hosted the two-day meeting in the beautiful region of Charlevoix, Quebec. The G7 countries are Canada, France, Germany, Italy, Japan, UK and the United States. The host country invited leaders and representatives from international organizations to discuss challenges of the global community.

As oil prices spike the issue of production cut is still a cause for worry for the Organisation of the Petroleum Exporting Countries, OPEC as the United States impose sanctions on Venezuela and Iran. The prospect of crude inventory rebalancing once the current production cut deal expires is becoming mixed blessing for global oil producers and consumers. A non OPEC crude producer, Russia expressed concern then that a further price strength would spark a supply reaction from American shale.  Is Russia’s perceived fear becoming a reality?

Economic uncertainties are situations that nobody can predict or guarantee. Such uncertainties may be from situations of sanctions or threats of them. Sanctions are penalties imposed by one or several states on another state to persuade or compel that state to amend its behaviour, or for strategic reasons. Sanctions might be imposed after a breach of international law such as military aggression, the abuse of human rights, or in retaliation for unfair trading practices. Sanctions can involve either military action or the interruption of normal trading practices; a boycott on imports from, or an embargo on exports to the offending state; suspension of financial aid; and freezing a country’s overseas assets.

It was an eventful period last week as global offshore energy experts gathered from the  April 30–May 3, at the New Radiancy Group, NRG Park in Houston, Texas to celebrate the golden jubilee of the Offshore Technology Conference,OTC, the world’s largest energy conference and exhibition, is where energy professionals meet to exchange ideas and opinions to advance scientific and technical knowledge for offshore resources and environmental matters.

The bane of mankind has been short term gains and would continue to be so. When Thomas Alva Edison (1847-1931) foretold that renewable energy and not oil was the future, he was misunderstood because of the cost outlay then.