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Oil Rally: Flash in the Pan

The West Texas Intermediate (WTI) crude rallied between US$43 andUS$46.62 a barrel in the last one week. It gave hope that glimmered in our hearts of a positive signal that the market may witness a bullish run in the low fifties in the fourth quarter, Q4 of 2016. It might have been cheering news for some countriesthat have been threatened by depressing oil prices. Some that have devalued their currencies and forced to austere economic measures may contemplate adjustments in higher benchmarks as they prepare for the 2017 fiscal year.

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Emissions and Fossil Fuels 2040

At the Unconventional Resources Technology Conference last week in San Antonio, United States, ExxonMobil commercial adviser Ken Golden was of the view that the calls for ban on fossil fuels for now were unrealistic. Examining global energy trends, Golden was of the view that though fossil fuels use posedanger to climate change,the clamour for alternative and renewable fuels in wind and solar would contribute less than 3 percent of global energy use by 2040.

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The honorifics in disambiguation

‘’Don’t trust anyone over thirty.’’ That is Jerry Rubin (1938-1994),U.S. activist and author’s quote. I do not know whether some will believe himbut itseems to capturethe sour relationship between two assembly pals and ally, Speaker of the House of Representatives,YakubuDogara, and immediate past Chairman of the House Committee on Appropriations, AbdumuminiJibrin over 2016 budget proceeds. Jibrin in a fit of temper has had what some regard as a childish display of rage. Others say it is good for our democracy.

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Baru: Message to Reengineer nnpc

The Greek mathematician Euclid of the 4th century BC who was responding to Ptolemy 1 if there were an easier way to solve theorems said that there is no ‘royal road’ to geometry. The reality in solving complex problems had never been with impressive generosity and existed since time immemorial. The procedure to tackle identified problem is what makes the difference.

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Our President, Our Memory Lane

‘’Men I’m checking out. I’m tired of no water, light, and no good roads. You can’t even find a bottle of soft drinks.” That was the 1984 NTA three-sentence storyline promo that had the late actor Enebeli Elebuwa fondly cast as Andrew. Andrew was travelling overseas in frustration that Nigerians had no public good; no electricity, no potable water, no public health system, no telephone, no schools, no roads, no security and no employment.

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The NNPC mythical profit

An anonymous quote has it that self-praise is no recommendation. Once upon a time there was a character out of fable; the widely known and recognized lizard which made a spectacle of itself at the village square when by accident it came down from the heights of an iroko tree. It noticed that nobody applauded it falling from an imagined height of the 200-metre Eiffel Towers in central Paris. It nodded its head three times in self-congratulation.

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Rasher devaluation and oil policies

Walter Bigelow Wriston (1919-2005) a U.S. banker, former chairman and CEO of Citicorp said that ‘’when a system of national currencies run by central banks is transformed into a global electronic marketplace driven by currency traders, power changes hands”. This quote was on Monday, 27th June, 2016 portrayed in President Muhammadu Buhari’s mien in expressing the Central Bank of Nigeria, CBN ruthless and rudderless Naira devaluation.

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fuel marketers

Flying round-the-world without fuel

Last Monday June 20, 2016 one of the two pioneers’ for clean energy, Bertrand Piccard who took control of the cockpit of a solar airplane at 6.30 UTC from the JFK airport New York, cruised across the Atlantic Ocean without fuel and landed safely at Seville Airport, Spain Thursday June 23, 2016 by 05.38 UTC. The airplane named Solar Impulse 2 had a 71 hours 8 minutes uninterrupted flying time. The Flight 15 in the series of the first Round-The-World Solar Flights without fuel covered a distance of 6765 km, flying electric with solar energy of 1388 kWh, zero fuel and zero emissions. Piccard’s transatlantic adventure was anchored on research and development in aviation powered by the sun.

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fuel marketers

Paying more in glutted fuel markets

Today we are in the club of nations producing petroleum and not knowing what to do with it; groping and wallowing in memories of long-gone old days of not knowing what to do with our petrodollars. Collectively we have not been able to utilize our innate releasing mechanisms to stimulate triggering instinctive behaviours to tackle identified challenges.

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Development areas not cannonades

Last Sunday President Muhammadu Buhari in a national broadcast to mark his one year in office called for dialogue with the Niger Delta communities to find lasting solution to the spate of vandalism of critical energy infrastructure. He did not mince his words on militiamen testing the administration’s will and resolve. There was the choice of carrot-and-stick approach by the President which may be ideal. But the current agitators’ comprehension of the meeting between government and ex-militants in Abuja and Benin may not have been that of a conciliatory gesture considering the President’s speech to fish out the perpetrators, and their sponsors brought to justice.

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Fuel price hike: Nigerian economy on the precipice

Though stakeholders are divided over the impact of the fuel price hike on the Nigerian economy in the medium to long term, it is however, a general consensus that in the short term, the effect of the hike on the economy would be unpleasant and near disastrous. In the wake of the hike, the Federal Government and other stakeholders had stated that the new price would bring temporary hardship on Nigerians, stating that it is a bitter pill that everyone must swallow for the country to survive difficult times and move forward.

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Impressionistic Corruption and Niger Delta Howitzers

Last week a group in the name of Niger Delta Avengers blew up the Chevron oil platform, signaling the return of militias. They made some demands, including the blighted Niger Delta oil spills that require remediation. In January, there was a similar bombing of a similar oil facility. There is an upwelling of unauthorized quasi-military group using weapons, arms and ammunition in the Niger Delta.

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