Posted on 05/23/2016 4:41:03 PM PDT by 2ndDivisionVet
Situation in Nigeria
For a country that produced nearly 2.4 million barrels of oil (NYSEARCA:USO) per day just a few months ago, Nigeria is facing some really serious issues.
A militant group called the Niger Delta has disrupted the country's 2.4 million b/d of production by blowing up pipelines, hassling producers, and threatening to destroy additional oil producing facilities. As a result, Nigeria's oil production has fallen from 2.4 million b/d to 1.4 million b/d and further pressuring a growing nation more and more reliant on its oil as revenue.
Nigeria is a fast growing country. Its economy is the largest in Africa, and its population is expected to grow 2.7% till 2045. What many people don't realize is that some oil producing nations could in-turn become oil consuming nations, and Nigeria looks to be on the trajectory to an oil importing nation by the middle of the century...
(Excerpt) Read more at seekingalpha.com ...
The trouble with Nigeria is that is full of Nigerians.
The #BLMs should move there to fix the place along the lines of their philosophies.
Soon to be full (more full) of your tax dollars. Right before the Kenyan leaves office.
Too many moozlems.
The Nigerians crucify their leaders like they are doing with Goodluck Jonathan. The “press” is bought by one guy or another and in the end only those with no scruples or shame or interest in the “external” trappings of power remain. Shadowy rapists, killers, monsters. This, with a few exceptions, is postcolonial Africa.
Socialism of the Bernie Sanders kind would turn them right around. Or maybe like they have in Venezuela.
I’m expecting an email any day, asking for $10,000 to help the richest man smuggle his $2 billion out of there; then I’ll get $500,000 when he gets to the USA. Send via Western Union only.
Venezuela was described as a "failed state" on CNBC (I was watching the vid streams on Roku last night) and the talking head also mentioned that the long-simmering unrest (terrorism) in the Niger delta has spawned a new group. If those two go kablooey any further, the price of oil may rise to $60/bbl or so. Thanks 2ndDivisionVet.
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