"Where Cheap Oil Is Seriously Bad News" Topic
9 Posts
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Action Log
03 Mar 2015 9:12 p.m. PST
by Editor in Chief Bill
- Removed from Modern Media board
- Crossposted to Ultramodern (2005-2015) board
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| Tango01 | 03 Mar 2015 3:38 p.m. PST |
"Crude oil has hit rock-bottom prices, and several African countries are getting the worst of it. Algeria, Libya, Nigeria, Chad, Angola and South Sudan are among the most oil-dependent economies in the world. At the same time, these countries are facing some of the world's most intractable security problems, and are relying on their petroleum-funded militaries to an extraordinary degree. Nigeria and Chad are battling the Boko Haram insurgency and various other internal and external security threats. Algeria and Angola are veritable dictatorships run by their military establishments. And Libya and South Sudan are embroiled in civil wars in which access to income from oil rents plays an important role…"
Full article here
link Amicalement
Armand |
| GarrisonMiniatures | 03 Mar 2015 4:18 p.m. PST |
Well, in the UK petrol prices have been steadily going back up in the last couple of weeks… |
 Legion 4   | 03 Mar 2015 4:24 p.m. PST |
Yeah, I see the prices going up already here in the Colonies … |
| Mako11 | 03 Mar 2015 7:08 p.m. PST |
$3.25 USD a gallon at my corner station tonight, so I'll be happy to see it drop again. Rumors are storage capacity in the US is running out, and that they're pumping 1 million more barrels a day than we're using, so they're talking about another crash to $20 USD – $25 USD/barrel. I sure hope that's true! |
| Stryderg | 03 Mar 2015 8:56 p.m. PST |
Yeah, that's great news for the people that use it, but the low prices are already causing job losses in the oil production areas. |
 Editor in Chief Bill   | 03 Mar 2015 9:13 p.m. PST |
The Nigerians keep wondering where all the oil money is going… it doesn't seem to be improving the country.  |
 Condotta | 03 Mar 2015 9:26 p.m. PST |
Bill, haven't you heard about the Nigerian Oil Minister's currency issues? If not, I have a large amount of Nigerian oil money that needs a monetary conversion, just send me…wait, what do you mean by the term "country". My tribe is doing fine! |
| Mako11 | 04 Mar 2015 12:10 a.m. PST |
On the flipside, the falling price of oil is perhaps the canary in the coal mine, and is a signal of a coming global recession/depression, depending upon which pundits you want to believe. |
| Jemima Fawr | 04 Mar 2015 6:19 a.m. PST |
The Scots must be relieved that they voted 'No'… |
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