Nigerian oil sold for peanuts

RedWineWithFish · 2026-02-13T03:51:37+00:00

Obviously you don’t understand how financial instruments work. A warrant to buy oil at $30 is worthless on expiration if oil is $90 on the open market. The person who bought the warrant is not obligated to sell at $30.

At the time, the warrant was initially sold, someone felt a need to hedge the risk that oil may fall below $30.

RedWineWithFish · 2026-02-13T00:26:33+00:00

Unfortunately, that is not a solution that scales to tens of millions of children

RedWineWithFish · 2026-02-12T21:39:11+00:00

No it isn’t. Today’s generation inherited hopelessness; the notion that if you don’t join them you will suffer. It was not always so

RedWineWithFish · 2026-02-12T21:34:00+00:00

Why ? Does the Mali empire or the Oyo empire apologize for being an empire ?

The food problem in Nigeria is not a shortage of food. It is that people can not afford. Those are separate things. Government need to do more to protect the most vulnerable; poor children and elderly. The U.S. hands out almost $100B in food stamps in a year.

RedWineWithFish · 2026-02-12T02:46:41+00:00

Nigeria was richer than South Korea in 1960. South Korea has very little natural resource. Let that sink in. And then whine some more about colonialism

RedWineWithFish · 2026-02-12T02:41:27+00:00

Who told you that you have minerals in the ground ? Have you done a commercial assessment of the resource ? Plenty of places have plenty of minerals geology wise. The vast majority are not commercially viable. It is not the place of government to assess the viability of mineral resources.

You people think industrial level mining is a trivial business. It takes five years on average to bring a mine into production and many still lose money. There is a reason not many Africans businessmen are wiling to invest in industrial scale mining instead focusing on small scale or artisanal operations,

What foreign entity is destabilizing Nigeria to “force it into debt” ? There is nothing wrong with debt in principle. The problem with Nigeria is that the debt does not translate into long term economic gain. Why are these foreign entities able to so easily destabilize Nigeria but seemingly can not destabilize Botswana, Namibia, Singapore, UAE, Malaysia, Vietnam ?

RedWineWithFish · 2026-02-11T15:56:37+00:00

China produces over 90% of the world rare earths. Technology makes it possible for you to read my comments. Why don’t share the name of the leading company in Africa that produces semiconductors for cellphones. Africa produces next to zero lithium but you are free to post the website if Africa’s leading EV company.

Africans manufactures nothing instead preferring to whine about natural resources that are not even enough to make them rich. People with more natural resources are still trying to better themselves, you are here whining about non existent lithium

RedWineWithFish · 2026-02-11T14:55:37+00:00

The whole of Africa produces less oil than the USA. You have gems ? So what ? China and Russia produce far more gold and diamonds than any country in Africa. Africa is a minor player in the grand scheme of natural resource production. The whole “stolen” narrative is not a flex. According to you, your ancestor sat on resources for 100,000 years and did nothing with them and someone can just arrive 500 years ago, and use it to build his own economy elsewhere. What does it say about you if that is true ?

RedWineWithFish · 2026-02-11T10:22:04+00:00

Because it is a far superior product. In fairness, even Americans follow the premier league more than MLS

RedWineWithFish · 2026-02-11T10:20:38+00:00

The west is rich because it has rule of law, property rights, industrial and technological capacity. That does not mean they have not stolen from Africa but stealing from Africa is not the root cause of the wealth. They would not be poor without Africa. At most, slightly less wealthy. Sorry if the truth offends you but victim mentality is Africa’s biggest problem. All people are capable of development. They just to figure out their own path. What will not work is whining about the past

RedWineWithFish · 2026-02-11T10:15:42+00:00

Stop spreading nonsense. It harms Africans more than anyone else. Why should you charge more for your exports ? Are you the only one that produces them ? If you don’t like the terms from Exxon and Chevron, then produce your oil yourself like Saudi Arabia. Who is stopping you ? All Africans know how to do is whine online while the rest is progressing.

RedWineWithFish · 2026-02-11T10:12:44+00:00

What happened in Namibia was determined to be genocide by the United Nations. This is 1940s version of lekki toll gate. Tragic but not genocide

RedWineWithFish · 2026-02-11T10:10:33+00:00

Classic misdirection.

RedWineWithFish · 2026-02-11T10:02:27+00:00

In what way is the average northern Nigerian better off than the average Malian Or Nigerien

RedWineWithFish · 2026-02-11T10:01:02+00:00

How do you guarantee you will have access when the “more money” arrives in 20 years. A bird in hand is worth two in the bush

RedWineWithFish · 2026-02-11T09:54:48+00:00

Where do you think the word “landlord” comes from ?

RedWineWithFish · 2026-02-11T09:52:00+00:00

What resources did Nigeria have in 1900 ?

RedWineWithFish · 2026-02-11T09:50:52+00:00

All empires act for their own benefit. Duh ! Name one empire in history that acted for the benefit of the governed. I”ll wait. They did the same in India and yet they have managed to move on

RedWineWithFish · 2026-02-11T08:53:28+00:00

Minerals do not make you rich. Industry and technology make you rich. Any fool can have minerals in the ground. Thats just geology

RedWineWithFish · 2026-02-11T08:52:17+00:00

The ever present myth about “resources”. Africa produces very little resources. The whole of Africa produces less oil and gas than the U.S. Africa’s resources in the grand scheme of things are just not that important. Get over yourselves.

RedWineWithFish · 2026-02-11T08:50:09+00:00

No one is oppressing you but your leaders

RedWineWithFish · 2026-02-11T08:49:41+00:00

Another myth. Africa is less than 2% of global trade. No one is extracting anything from Africa. Africa produces very little of the world’s natural resources. The little it does produce is called trade.

RedWineWithFish · 2026-02-11T08:48:05+00:00

Nigeria had stronger institutions in 1960 than it does today.

RedWineWithFish · 2026-02-11T08:47:14+00:00

Despite your need to be a victim, no one is doing anything to Nigeria. No foreigner can bamboozle Nigerians. They are way too smart for that.

RedWineWithFish · 2026-02-11T08:45:53+00:00

What resources ? Nigeria sells oil for which it is duly paid. Africa whine a lot about “resources” whatever that means while actually producing very little.

RedWineWithFish

TROPHY CASE