The End of Oil and the Future Beyond Oil
With Photography by Akintunde Akinleye and Véronique de Viguerie
Picture by Reuters photographer Akintunde Akinleye
"Ebiowei, 48, pours water to reduce the intensity of the fire in a burner at an illegal oil refinery site, on November 27, 2012 "
Nigeria's Illegal Oil Refineries" by Alan Taylor.
Jan 15, 2013. The Atlantic : Accessed 26 February 2016.
"Ebiowei, 48, pours water to reduce the intensity of the fire in a burner at an illegal oil refinery site, on November 27, 2012 "
Nigeria's Illegal Oil Refineries" by Alan Taylor.
Jan 15, 2013. The Atlantic : Accessed 26 February 2016.
Unless any country is able to destroy shale oil or make it irrelevant, oil prices won't soar. What's more, just as the super powers developed fracking technology to break through shale gas, they could also develop a means to explore the much abundant shale gas cheaply. And so, the competition of who controls oil continues.
And poor Nigeria, where would that put us?
Meanwhile, electric cars are becoming commonplace in Europe, cleaner sources of energy are being discovered daily.
Picture by Reuters photographer Akintunde Akinleye
"A young woman named Akpomene, coated in oil stains as she sits in a canoe near river Nun in Bayelsa State, Nigeria, on November 27, 2012.
Akpomene fishes in the creek and sells the fish to help her family. She washes after fishing but still has sticky rashes on her body"
"Nigeria's Illegal Oil Refineries" by Alan Taylor.
Jan 15, 2013. The Atlantic. Accessed 26 February 2016.
The truth is this: Nigeria's crude oil dependent economy is yet to get over the fact that oil, the mainstay of the economy for much of the country's life, is becoming utterly useless.
What would the country do when it is completely useless?
The only hope is the total liberalisation of oil production and distribution. Those people they call thieves of oil in the creeks now have to lead the extraction of crude oil and production of petrol and others to keep the cost competitive. This means that off shore fuel production will increasingly be a no no.
Picture by Véronique de Viguerie of men at work in an illegal oil refinery in Nigeria's Niger Delta from " The Oil War, Niger Delta " in Bayeux Festival for the War Correspondants in 2011.
Accessed 26 February 2016.
The Nigerian economy is in a time warp.
We desperately need to diversify. Let individuals take the initiative of selling our oil and other products Africa wide and world wide.
Picture by Reuters photographer Akintunde Akinleye
" A locally made boat containing crude oil is manned through a creek near river Nun in Bayelsa State, Nigeria, on December 6, 2012"
"Nigeria's Illegal Oil Refineries" by Alan Taylor. Jan 15, 2013.
The Atlantic. Accessed 26 February 2016.
" A locally made boat containing crude oil is manned through a creek near river Nun in Bayelsa State, Nigeria, on December 6, 2012"
"Nigeria's Illegal Oil Refineries" by Alan Taylor. Jan 15, 2013.
The Atlantic. Accessed 26 February 2016.
The oil market is gone.
Who will buy from Nigeria when everyone is producing oil. We are surrounded by oil producers - Ghana, Equatorial Guinea, Cameroon, Niger, Chad, Sudan, Gabon, Angola. North Africa is dominated by Algeria, Libya, Egypt. Even Kenya is now producing.
We had an exclusive with South Africa. Buhari, the current Nigerian leader, attacked MTN, a South African company, punitively to extract money and lost the South African oil market.
We are locked down. The Green revolution means that the Western world's need for oil is daily decreasing.
Picture by Reuters photographer Akintunde Akinleye
"Ebiowei, 48, carries refined oil in buckets near the river Nun in Bayelsa State, on November 27, 2012"
"Nigeria's Illegal Oil Refineries" by Alan Taylor. Jan 15, 2013.
The Atlantic. Accessed 26 February 2016.
"Ebiowei, 48, carries refined oil in buckets near the river Nun in Bayelsa State, on November 27, 2012"
"Nigeria's Illegal Oil Refineries" by Alan Taylor. Jan 15, 2013.
The Atlantic. Accessed 26 February 2016.
Saudi Arabia will not stop this fight until they cripple shale producers in America and Canada. My instinct is that they won't succeed. The shale producers will find cheaper ways of producing. You can bet on that with America.
Someone has to wean Nigeria off its oil milk. The Igbos could help by distributing Nigerian products through their Africa distribution network but our tribalism wont let Nigerians use that obvious network.
Picture by Reuters photographer Akintunde Akinleye
" Steam is emitted from pipes as a man describes a process of refining crude oil at an illegal refinery in Nigeria, on November 27, 2012 "
" Nigeria's Illegal Oil Refineries" by Alan Taylor. Jan 15, 2013.
The Atlantic. Accessed 26 February 2016.
" Steam is emitted from pipes as a man describes a process of refining crude oil at an illegal refinery in Nigeria, on November 27, 2012 "
" Nigeria's Illegal Oil Refineries" by Alan Taylor. Jan 15, 2013.
The Atlantic. Accessed 26 February 2016.
Source of Main Text
Comments on "Buharinomics 101"Agha Egwu's Facebook wall post of 24 February at 20:35
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