We can’t move forward until we replace the CBN Governor. I’m sorry, he doesn’t get it. I don’t know him personally and he’s probably a decent man. In fact I feel a twinge of pity and pain each time I see him in media photos. He must be under tremendous stress.
We have a current structure running on the sharing of predominantly oil money through the government. Obviously the exchange rate is a central part of that arrangement.
That whole shit has unravelled.
Unfortunately our leaders keep their head stuck in the sand and fail to recognise the reality. They talk the talk, especially the Veep, but then they proceed to do something diametrically opposite. They are not walking the freaking walk.
I’m not under any illusions that the restructuring will be painful. What hurts, and I write this boiling, is that we are wasting time and messing with people’s lives instead of just getting on with the bloody thing. I had high hopes for the MTEF, I wonder who the industry people they said they consulted with are.
A note on the huge tech changes rocking our world.
Non-conventionals — shale oil is obviously the immediate concern here. And it’s not going away. Breakeven prices in the Permian plays are down to about $36/barrel. If you look at the economics, it’s down to a battle between cheap land and shallow water sources and the shale producers. Deepwater heavy and any expensive producers can expect to bleed for a long time. Maybe never recover. The way we are setup? We are not even in play. But we don’t get it. Other renewable tech will only reduce the demand further. Time to get off that oil drug, but addictions are difficult to break isn’t it?
Electric cars — I test drove a Tesla earlier this year, you’d sell your car and buy one if you did too. If Musk pulls off his Model3 at the promised price point, please be prepared for a bold new world. But that’s even high end. The Chinese are pouring billions into this as well, my bet is that they will be the ones to sweep our world not Tesla.
Where are the bold leaders willing to grab the bull by the horns and position us for the next couple of decades? I’m looking for somewhere to channel this passion. If you see one, let me know.
