|
Post by dansoye1 on Dec 8, 2015 9:05:14 GMT
|
|
|
Post by Omoluabi on Dec 8, 2015 9:44:58 GMT
|
|
|
Post by Omoluabi on Dec 8, 2015 9:56:33 GMT
I think it's high time Saudi Arabia swallow it's pride and agree to cut it's over-sized production quota. Shale oil is here to stay and will continue to shrink OPEC supply volume to the US which will ensure further price drops. Industrial activities around the world normally experience a lull during winter so i expect some rebound in price by next year. Also with our budget expected to be predicated on $38/barrel, we might safely assume we have the issue of budget deficit covered. We just must work seriously on revenue from MDA's and parastatals while expanding the tax pool and plugging leakages in the tax collection chain.
However, our external reserves is in trouble and unless we speed up action on non oil exports, the value of the naira will plummet very greatly.
|
|
|
Post by Omoluabi on Dec 8, 2015 10:08:55 GMT
|
|
|
Post by Honorebu on Dec 8, 2015 13:34:16 GMT
Nigeria really needs diversified sources of power supply.That's how it's done everywhere.Unfortunately, we only make use of Gas and hydro while the coal is left unused.We can create a lot of jobs in the industry as well.In the US, the mines alone employ about 134,000 people, contributing to high employment, and over the next 10 years, 50,000 new employees will be needed to replace workers who will be retiring and coal still constitutes a substantial portion of their energy needs
My major issue with coal is that it's not environmental friendly.It's probably the dirtiest source of energy.There's also the issue of global warming as well and according to what I read, Coal is the largest contributor to global warming which probably explains why China is the world's top emitter since it uses the most coal, but I feel we can make coal like that extra support.We shouldn't make it a major source of energy since we already have natural gas which is a better/cleaner alternative to coal
|
|
|
Post by Omoluabi on Dec 8, 2015 14:33:31 GMT
Nigeria really needs diversified sources of power supply.That's how it's done everywhere.Unfortunately, we only make use of Gas and hydro while the coal is left unused.We can create a lot of jobs in the industry as well.In the US, the mines alone employ about 134,000 people, contributing to high employment, and over the next 10 years, 50,000 new employees will be needed to replace workers who will be retiring and coal still constitutes a substantial portion of their energy needs
My major issue with coal is that it's not environmental friendly.It's probably the dirtiest source of energy.There's also the issue of global warming as well and according to what I read, Coal is the largest contributor to global warming which probably explains why China is the world's top emitter since it uses the most coal, but I feel we can make coal like that extra support.We shouldn't make it a major source of energy since we already have natural gas which is a better/cleaner alternative to coal concerning your worries about the environment, see a part of the article ''China is the largest coal producer in the world. In 2012, China produced 3.7 billion tons. Proven reserves of coal in China in 2010 were 114.5 billion tons. Coal fired generators in China account for 86% of China’s needs. By 2020 China’s coal consumption for energy will still be 55% of its energy mix compared to 74% in 2014. China is pushing ahead with coal generators with little environmental deficiency, improved efficiency and reduced emissions, etc, through the support of clean coal technology which has lately vastly developed: “The future is in highly developed and efficient ultra-super critical pulverised coal plants”.I think technological advancements now make it possible to utilize coal without damaging the environment and i believe better technologies will continue to be developed in coming years
|
|
|
Post by Shymmex on Dec 8, 2015 15:21:56 GMT
Nigeria really needs diversified sources of power supply.That's how it's done everywhere.Unfortunately, we only make use of Gas and hydro while the coal is left unused.We can create a lot of jobs in the industry as well.In the US, the mines alone employ about 134,000 people, contributing to high employment, and over the next 10 years, 50,000 new employees will be needed to replace workers who will be retiring and coal still constitutes a substantial portion of their energy needs
My major issue with coal is that it's not environmental friendly.It's probably the dirtiest source of energy.There's also the issue of global warming as well and according to what I read, Coal is the largest contributor to global warming which probably explains why China is the world's top emitter since it uses the most coal, but I feel we can make coal like that extra support.We shouldn't make it a major source of energy since we already have natural gas which is a better/cleaner alternative to coal Global warming is a scam and the countries screaming global warming are the biggest culprits in the emissions they claim cause global warming. Al Gore became a billionaire overnight by selling that global warming Ponzi scheme. All western countries still use coal heavily for energy production. So what's stopping us from doing the same?
|
|
|
Post by IrekeOnibudo on Dec 8, 2015 16:57:16 GMT
Nigeria really needs diversified sources of power supply.That's how it's done everywhere.Unfortunately, we only make use of Gas and hydro while the coal is left unused.We can create a lot of jobs in the industry as well.In the US, the mines alone employ about 134,000 people, contributing to high employment, and over the next 10 years, 50,000 new employees will be needed to replace workers who will be retiring and coal still constitutes a substantial portion of their energy needs
My major issue with coal is that it's not environmental friendly.It's probably the dirtiest source of energy.There's also the issue of global warming as well and according to what I read, Coal is the largest contributor to global warming which probably explains why China is the world's top emitter since it uses the most coal, but I feel we can make coal like that extra support.We shouldn't make it a major source of energy since we already have natural gas which is a better/cleaner alternative to coal concerning your worries about the environment, see a part of the article ''China is the largest coal producer in the world. In 2012, China produced 3.7 billion tons. Proven reserves of coal in China in 2010 were 114.5 billion tons. Coal fired generators in China account for 86% of China’s needs. By 2020 China’s coal consumption for energy will still be 55% of its energy mix compared to 74% in 2014. China is pushing ahead with coal generators with little environmental deficiency, improved efficiency and reduced emissions, etc, through the support of clean coal technology which has lately vastly developed: “The future is in highly developed and efficient ultra-super critical pulverised coal plants”.I think technological advancements now make it possible to utilize coal without damaging the environment and i believe better technologies will continue to be developed in coming years I am with you on this one, bruv. With China rolling out IGCCs, I see no reason why Nigeria should not leverage the same technology. Klean Coal - Integrated Gasification Combined Cycle (IGCC) Power Plant Technology
|
|
|
Post by Omoluabi on Dec 8, 2015 17:48:21 GMT
concerning your worries about the environment, see a part of the article ''China is the largest coal producer in the world. In 2012, China produced 3.7 billion tons. Proven reserves of coal in China in 2010 were 114.5 billion tons. Coal fired generators in China account for 86% of China’s needs. By 2020 China’s coal consumption for energy will still be 55% of its energy mix compared to 74% in 2014. China is pushing ahead with coal generators with little environmental deficiency, improved efficiency and reduced emissions, etc, through the support of clean coal technology which has lately vastly developed: “The future is in highly developed and efficient ultra-super critical pulverised coal plants”.I think technological advancements now make it possible to utilize coal without damaging the environment and i believe better technologies will continue to be developed in coming years I am with you on this one, bruv. With China rolling out IGCCs, I see no reason why Nigeria should not leverage the same technology. Klean Coal - Integrated Gasification Combined Cycle (IGCC) Power Plant Technology
I trust Fashola is already thinking in that direction. The only issue will be getting those loaded enough to come invest in the power sector since its already in the process of being fully privatised.
|
|
|
Post by Belmot on Dec 8, 2015 18:27:46 GMT
I am with you on this one, bruv. With China rolling out IGCCs, I see no reason why Nigeria should not leverage the same technology. Klean Coal - Integrated Gasification Combined Cycle (IGCC) Power Plant Technology
I trust Fashola is already thinking in that direction. The only issue will be getting those loaded enough to come invest in the power sector since its already in the process of being fully privatised. Why can't we have hubs in each region instead of a national grid.
|
|
|
Post by Omoluabi on Dec 8, 2015 18:39:48 GMT
I trust Fashola is already thinking in that direction. The only issue will be getting those loaded enough to come invest in the power sector since its already in the process of being fully privatised. Why can't we have hubs in each region instead of a national grid. That's exactly what this govt hopes to do going by what they have in their manifesto. Osinbajo explained it at some of their engagements with the public during the campaigns. Even Fashola said as much today when he articulated his plans for power, works and housing to journalists.
|
|
|
Post by Belmot on Dec 8, 2015 20:20:33 GMT
Why can't we have hubs in each region instead of a national grid. That's exactly what this govt hopes to do going by what they have in their manifesto. Osinbajo explained it at some of their engagements with the public during the campaigns. Even Fashola said as much today when he articulated his plans for power, works and housing to journalists. Politicians will always be politicians don't take them too serious. We have a very poor transmission network all over the country that is the reason why I am suggesting breaking them into hubs but look at the power plant they kept building, why build gas fired power plant when clearly you do not have the infrastructure to transport the gas to the plant.we should look at coal,solar and wind as alternatives to hydro and gas.
|
|
|
Post by Omoluabi on Dec 9, 2015 5:28:53 GMT
That's exactly what this govt hopes to do going by what they have in their manifesto. Osinbajo explained it at some of their engagements with the public during the campaigns. Even Fashola said as much today when he articulated his plans for power, works and housing to journalists. Politicians will always be politicians don't take them too serious. We have a very poor transmission network all over the country that is the reason why I am suggesting breaking them into hubs but look at the power plant they kept building, why build gas fired power plant when clearly you do not have the infrastructure to transport the gas to the plant.we should look at coal,solar and wind as alternatives to hydro and gas. You're right. Anyway, the best we can do is give Fashola and his team some time to show themselves.
|
|
|
Post by Belmot on Dec 9, 2015 11:49:03 GMT
|
|
|
Post by Omoluabi on Dec 9, 2015 12:24:24 GMT
Fayemi has already started work on this. My friend who is a miner in Jos attended a forum of miners hosted by Fayemi in Abuja some 3 weeks ago. They were also at the BOI where the bank promised to assist with financing. The regulations have started taking effect already as one of the biggest miners in the Plateau and Bauchi states by name Dan-China was asked to pay royalties of up to N1Billion for the sites he mines from.
I'm sure we'll start seeing the effects of these reforms soon
|
|