Topic: Looking forward to $400/barrel oil!
Anonymous A started this discussion 1 month ago #133,906
Great job Mister President! Glad you put America first, again!
Anonymous B joined in and replied with this 1 month ago, 47 seconds later[^] [v] #1,426,798
I better buy a bike
Anonymous C joined in and replied with this 1 month ago, 28 seconds later, 1 minute after the original post[^] [v] #1,426,799
Nigeria will love it!
Anonymous D joined in and replied with this 1 month ago, 2 hours later, 2 hours after the original post[^] [v] #1,426,817
trump is bestthing to ever happen to nuclear. def gonna support his third term.
Anonymous E joined in and replied with this 1 month ago, 6 minutes later, 2 hours after the original post[^] [v] #1,426,819
Thunder Balls !saAqdaazn2 joined in and replied with this 1 month ago, 24 minutes later, 2 hours after the original post[^] [v] #1,426,820
Fucking Joe Biden
Anonymous G joined in and replied with this 1 month ago, 25 minutes later, 3 hours after the original post[^] [v] #1,426,822
Anonymous H joined in and replied with this 1 month ago, 15 minutes later, 3 hours after the original post[^] [v] #1,426,824
Anonymous I joined in and replied with this 1 month ago, 5 hours later, 8 hours after the original post[^] [v] #1,426,863
There was a unspoken agreement that oil infrastructure would not be hit, and Isreal decided to break that agreement.
Anonymous I double-posted this 1 month ago, 8 minutes later, 8 hours after the original post[^] [v] #1,426,864
So the choice now is help with the Iran war, which will escalate further and disrupt oil production further, or commit resources to try and ease the shock of all that oil disappearing from the market.
Anonymous I triple-posted this 1 month ago, 2 minutes later, 8 hours after the original post[^] [v] #1,426,865
@1,426,799 (C)
The oil companies will love it, but Nigerians will not benefit from the rise in their own individual bills.
The oil companies will love it, but Nigerians will not benefit from the rise in their own individual bills.
Anonymous J joined in and replied with this 1 month ago, 5 hours later, 14 hours after the original post[^] [v] #1,426,887
@1,426,819 (E)
>
Nothing will be the end. Trump isn’t a teflon president, he is a black hole that absorbs all light and disintegrates anything he touches. He lies repeatedly and people trust him. He demands loyalty and gives none. His business history of entrepreneurial failure and defrauding investors got him elected twice. Bankruptcy, felony convictions, civil suit judgment for rape - do nothing.
He’s the hacker in the 2000s server game running in the sky firing infinite rockets at the other players.
>
Nothing will be the end. Trump isn’t a teflon president, he is a black hole that absorbs all light and disintegrates anything he touches. He lies repeatedly and people trust him. He demands loyalty and gives none. His business history of entrepreneurial failure and defrauding investors got him elected twice. Bankruptcy, felony convictions, civil suit judgment for rape - do nothing.
He’s the hacker in the 2000s server game running in the sky firing infinite rockets at the other players.
Anonymous K joined in and replied with this 1 month ago, 2 minutes later, 14 hours after the original post[^] [v] #1,426,889
@1,426,865 (I)
Nigeria produces more oil than they consume, it actually will help them more than it will hurt them, their GDP will increase significantly this year if the war doesn’t end soon.
Nigeria produces more oil than they consume, it actually will help them more than it will hurt them, their GDP will increase significantly this year if the war doesn’t end soon.
Anonymous K double-posted this 1 month ago, 3 minutes later, 14 hours after the original post[^] [v] #1,426,891
It sounds weird but the oil industry in Nigeria is the Nigerian economy. If oil is more expensive, they have a better economy, if oil is less expensive, they have a worse economy. The US produces more oil than Nigeria but despite having a population that’s not really that much larger than Nigeria’s population, on the same order of magnitude just 300 million instead of 200 million, the United States is a larger country with cities designed around this absurd car culture. So the US is more vulnerable to changes in global oil prices than Nigeria is despite producing much more oil. The US simply has a higher demand for oil. Nigeria can very easily meet their domestic oil demand no matter what’s going on in the wider world outside of Nigeria. The Nigerian economy is more similar to the Russian economy than the American economy. When oil prices go up, Russians celebrate, when oil prices go up, Americans complain. The American economy is better than Russia or Nigeria because the US isn’t dependent on one resource, but in order for a country like Nigeria to develop they need the funds to expand into other industries and the best way to get those funds is a sudden spike in the price of oil that increases their GDP very fast.
Anonymous K triple-posted this 1 month ago, 13 minutes later, 14 hours after the original post[^] [v] #1,426,892
And to show how much of a difference that makes, the math on this is very simple.
https://www.reuters.com/business/energy/ceraweek-nnpc-group-ceo-says-nigeria-can-grow-production-by-100000-bpd-over-next-2026-03-23/
Nigeria usually makes 1.7 million barrels of oil per day. Now they’re increasing that target to 1.8 million. Before the war the price of oil was $65 / barrel. Now oil prices are at $102 / barrel and steadily rising.
The math here is simple. Before the war this was Nigeria’s annual oil revenue:
65*1.7*10^6*365 = $40,332,500,000
Now, this is their annual revenue with the current price of oil:
102*1.8*10^6*365 = $67,014,000,000
That’s an increase of $26,681,500,000
https://www.macrotrends.net/global-metrics/countries/nga/nigeria/gdp-gross-domestic-product
Nigeria’s GDP in 2023 was $363.8 billion
If that increase by 26.6 billion, then their GDP is $390.4 billion, which is a 7.3% increase in Nigeria’s GDP.
The US GDP usually only grows by about half that on a good year.
https://tradingeconomics.com/united-states/gdp-growth
Now that’s assuming oil prices stay at $100. If the war doesn’t end, if the situation gets worse, maybe troops on the ground or something, and oil goes to $200, they could get even more than 7% GDP growth. The worst case scenario for Nigeria is the war ends tomorrow.
https://www.reuters.com/business/energy/ceraweek-nnpc-group-ceo-says-nigeria-can-grow-production-by-100000-bpd-over-next-2026-03-23/
Nigeria usually makes 1.7 million barrels of oil per day. Now they’re increasing that target to 1.8 million. Before the war the price of oil was $65 / barrel. Now oil prices are at $102 / barrel and steadily rising.
The math here is simple. Before the war this was Nigeria’s annual oil revenue:
65*1.7*10^6*365 = $40,332,500,000
Now, this is their annual revenue with the current price of oil:
102*1.8*10^6*365 = $67,014,000,000
That’s an increase of $26,681,500,000
https://www.macrotrends.net/global-metrics/countries/nga/nigeria/gdp-gross-domestic-product
Nigeria’s GDP in 2023 was $363.8 billion
If that increase by 26.6 billion, then their GDP is $390.4 billion, which is a 7.3% increase in Nigeria’s GDP.
The US GDP usually only grows by about half that on a good year.
https://tradingeconomics.com/united-states/gdp-growth
Now that’s assuming oil prices stay at $100. If the war doesn’t end, if the situation gets worse, maybe troops on the ground or something, and oil goes to $200, they could get even more than 7% GDP growth. The worst case scenario for Nigeria is the war ends tomorrow.
Anonymous K quadruple-posted this 1 month ago, 7 minutes later, 14 hours after the original post[^] [v] #1,426,893
If oil is $200 for a year, they’ll make $131,400,000,000 in oil revenue which is a $91,067,500,000 increase to their GDP. That would put them at a 454.8 billion USD GDP with a 25% GDP increase. Now that’s only worst case scenario and maybe the least likely, but for Nigeria that would actually make a really big difference.
Anonymous K quintuple-posted this 1 month ago, 6 minutes later, 14 hours after the original post[^] [v] #1,426,895
Now hypothetically, this is impossible, but if 25% GDP growth was sustained for just 5 years:
363.8 * 10^9 * 1.25^x
x is 5 years
Nigeria would have a $1 trillion dollar GDP
$1,110,229,500,000
Of course, that won’t happen because the 25% GDP growth the first year would go to 0% GDP growth the next year because oil prices would stop rising at some point. It’s more to demonstrate how GDP growth is exponential.
The main thing that matters is if Nigerian industrialists use their profits from this towards investing in other industries if they’re smart. That will determine if the benefit from the war is temporary or permanent.
363.8 * 10^9 * 1.25^x
x is 5 years
Nigeria would have a $1 trillion dollar GDP
$1,110,229,500,000
Of course, that won’t happen because the 25% GDP growth the first year would go to 0% GDP growth the next year because oil prices would stop rising at some point. It’s more to demonstrate how GDP growth is exponential.
The main thing that matters is if Nigerian industrialists use their profits from this towards investing in other industries if they’re smart. That will determine if the benefit from the war is temporary or permanent.
Anonymous K sextuple-posted this 1 month ago, 9 minutes later, 14 hours after the original post[^] [v] #1,426,900
Historically there were huge spikes in Nigeria’s GDP following increases in global oil prices (1970s oil crisis and the gulf war - 🤔). But they weren’t advanced enough yet to really use those gains to benefit their country long term. Now, they’re still an underdeveloped country but much less so than back then, so hopefully they have more emerging industries that they can actually invest in this time.
https://www.macrotrends.net/global-metrics/countries/nga/nigeria/gdp-gross-domestic-product
https://www.macrotrends.net/global-metrics/countries/nga/nigeria/gdp-gross-domestic-product
Anonymous I replied with this 1 month ago, 4 minutes later, 15 hours after the original post[^] [v] #1,426,901
@1,426,895 (K)
The price on basic necessities is sure you go up, not only on imports but also oil itself will rise in price for them, already has as far as I understand. So yeah they have to play it very smart with the extra oil funds.
The price on basic necessities is sure you go up, not only on imports but also oil itself will rise in price for them, already has as far as I understand. So yeah they have to play it very smart with the extra oil funds.
Anonymous L joined in and replied with this 1 month ago, 36 minutes later, 15 hours after the original post[^] [v] #1,426,905
I think the most obvious thing for Nigeria to do would be to build more infrastructure to extract and refine oil.
Nigeria has about half the proven oil reserves of the United States (in terms of land area they’re way less than half the size of the United States which means there’s a lot of oil in that region).
https://www.worldometers.info/oil/oil-reserves-by-country/
But in terms of oil production, the US produces about 20x as much oil as Nigeria.
https://www.worldometers.info/oil/oil-production-by-country/
The problem is that America is one of the world’s most developed countries while Nigeria is one of the world’s least developed. So the United States has much better infrastructure for extracting, transporting, refining, and exporting oil than Nigeria does. All that infrastructure costs money, and Nigeria doesn’t have limitless cash to fully exploit their natural resources.
The only reason why I’m optimistic that Nigeria will use their funds to do this is because no matter how corrupt they are, there’s an obvious selfish incentive for an oil billionaire to try to extract more oil if they have more money to extract more oil.
However, that will be a slow process, they can’t just instantly build new infrastructure no matter how much money they have. So I’d imagine there will be short term pain but overall the economy could get stronger because of this.
Nigeria has about half the proven oil reserves of the United States (in terms of land area they’re way less than half the size of the United States which means there’s a lot of oil in that region).
https://www.worldometers.info/oil/oil-reserves-by-country/
But in terms of oil production, the US produces about 20x as much oil as Nigeria.
https://www.worldometers.info/oil/oil-production-by-country/
The problem is that America is one of the world’s most developed countries while Nigeria is one of the world’s least developed. So the United States has much better infrastructure for extracting, transporting, refining, and exporting oil than Nigeria does. All that infrastructure costs money, and Nigeria doesn’t have limitless cash to fully exploit their natural resources.
The only reason why I’m optimistic that Nigeria will use their funds to do this is because no matter how corrupt they are, there’s an obvious selfish incentive for an oil billionaire to try to extract more oil if they have more money to extract more oil.
However, that will be a slow process, they can’t just instantly build new infrastructure no matter how much money they have. So I’d imagine there will be short term pain but overall the economy could get stronger because of this.
Anonymous L double-posted this 1 month ago, 2 minutes later, 15 hours after the original post[^] [v] #1,426,906
I think the issue with Nigeria is Nigeria has massive growth potential due to its population and oil resources, it just hasn’t had the space to develop because already developed countries can outcompete Nigeria to the extent they can’t get the funds to further exploit their resource and demographic advantage. But the easiest way around this is some external event removes some of the competition for Nigeria, which seems to be what the war in Iran is. They just have to get lucky once.
Anonymous L triple-posted this 1 month ago, 5 minutes later, 15 hours after the original post[^] [v] #1,426,909
And if it’s not this time, there will always be another war sometime in the next 50 years. It should happen eventually.
Anonymous L quadruple-posted this 1 month ago, 19 minutes later, 16 hours after the original post[^] [v] #1,426,912
One of the frustrating things about Africa is that Europe colonized Africa and held onto African territory during the Industrial Revolution. Once Europe let go of their African territories, other parts of the world were already fully industrialized while they had prevented any industries from developing in Africa, and now Africa has to try to compete with other parts of the world that already have established industries. So it will probably take some tragedy elsewhere for Africa to get a proper competitive foothold.
(Edited 10 seconds later.)
Anonymous M joined in and replied with this 1 month ago, 3 minutes later, 16 hours after the original post[^] [v] #1,426,913
Like World War Two for example. Word war two is basically why Africa became independent. In order for Africa to have breathing room, it took a massive war in Europe to bankrupt colonial powers. But World War Two wasn’t quite enough.
Anonymous D replied with this 1 month ago, 9 hours later, 1 day after the original post[^] [v] #1,427,023
@1,426,912 (L)
nah man, a prehistoric super geenious made the white devils as a revenge against other africums 4 keep giving him galatik weegee erry day and made the white devil took away all of africas smarticles and industree.
nah man, a prehistoric super geenious made the white devils as a revenge against other africums 4 keep giving him galatik weegee erry day and made the white devil took away all of africas smarticles and industree.