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Nigerian Countrywide Strike Suspended
Just out from Reuters:
- NIGERIA'S LABOUR UNION LEADERS SAY STRIKE SUSPENDED - RTRS
Minor down tick in crude on the news, maybe because everyone is still sleeping. So, does this mean that the Iran embargo is back on, and the joint US-Israel wargames are set to resume as "budgetary" conditions have loosened?
More from Reuters:
Nigerian trade unions called off strikes and protests on Monday, pulling Africa's top oil producer back from a major confrontation after President Goodluck Jonathan announced a cut in petrol prices by a third.
His move partially reinstated a fuel subsidy, the scrapping of which was a key policy of Jonathan and his economic team. But it slashes the cost of the benefit to the government and leaves open negotiations to phase it out again later.
Jonathan said fixing the litre price at 97 naira ($0.60) was a short-term response to ease hardships.
"In the past eight days through strikes, mass rallies, shutdown, debates and street protests, Nigerians demonstrated clearly that they cannot be taken for granted and that sovereignty belongs to them," Abdulwahed Omar, president of the Nigeria Labour Congress (NLC), said during a press conference.
"Labour and its allies formally announce the suspension of strikes, mass rallies and protests across the country."
Jonathan met union leaders late on Sunday in search of a compromise to end the strikes but he said later the talks had "yielded no tangible result" and he would pursue a policy of removing subsidies which he says breeds waste and corruption.
"The government will continue to pursue full deregulation of the downstream petroleum sector. However, given the hardships being suffered by Nigerians, and after due consideration and consultations ... the government has approved the reduction of the pump price of petrol," he said in a national broadcast.
Residents of Nigeria's biggest city Lagos reported soldiers in the streets in an apparent security move to contain any further protests.
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Wargames! A new event just in time for the Olympics just like 08.
2008.... [sigh]
Well Gene, we are repeating a great pattern. Just like in 2008. Was the sigh for th egod old days of 2008? Bird's nest?
Well, if 2008 was the year of the 8's and bird's nests and the collapse of curret-sea, then this is the years the banks that hold said currents in place to give. The year of the greater flood.
Africa, the playground of the UK/France/Belgium/Italy..... the Eurozone is yet to pay karmic retribution for Africa and what they've done there. Cecil Rhodes, roll in your imperialistic grave, low-life.
nigeria's production should be SHUT DOWN till they clean up, pay people a little, disband the Shell oil paid mercenaries that spread terror on big Oil's behalf.
The end of the age of OIL. Bring it. Or I will. ;-)
ori
/truth/
"Cecil Rhodes, roll in your imperialistic grave, low-life."
Lyrical.
He was a child of his time, ORI.
The karmic retribution will probably look like what the Romans paid for colonizing Gaul and Germania..
That child of his time sure spawned a bunch of weird organizations though eh? Long hand, post death too.
ori
The US never did like the Olympics because it creates a bad precedent which may pressure them to invite aliens to participate in the "World" series ;-)
I think someone had a quiet word with "O" and pointed out that re-election and ^ Dollar gas are mutually exclusive.
Makes sense. These guys sold a chunk of crude oil call options last week: http://www.spadacapital.com/?articleID=2236
Sometimes the humor on this site is just brilliant! Thanks for it.
I'm guessing the Nigerian strike was hurting the little guy just a little too deeply to continue. unlike the US, the support for tehir actions was contained within the unions only, and violent acts were being carried out against the union members because of the extreme pain the doubling of gasoline prices placed upon workers trying to survive on a hundred fifty pounds a month.
Had nothing to do with it.
The Nigerian government usually subsidized oil prices lower -- with government expenditures. It was doing what all such things do . . . it was ramping up domestic oil consumption (which ramps down exportable oil, which is revenue).
The Unions said the price jack was killing everyone and went on strike. The government semi folded, lowering oil prices BY DECREE, not via subsidy. The Unions said okay, we'll stop striking.
So who is going to pay for the by decree price cut? Pretty much no one. Instead, gasoline will dry up. No one will provide it to the public below cost.
This action by the Nigerian government will fail.
Bernanke replied to one of those Nigerian e-mails?
I do not celebrate MLK day !
Strike suspended for MLK birthday ? There is Zero leadership talent in Africa......they look to the tired old whore MLK for inspiration ? Pretty pathetic ! Where are the "Black Libertarians" ? Sadly, they can be counted on one hand and are totally dependent on support from their non-black tutors ! Monedas 2012 Not impressed with black people's contribution to the struggle for human freedom ! BTW: Corporations are people ! "Fictitious Person" is the bugaboo of confused liberal minds !
You just said that. Not worth repeating.
Quite confusing.
Those guys did strike, which is much more than your average US citizen Joe living in the country of US of A, their so called non black tutors (in wich actually I also include also their black tutors)
And contrary to the gold old US of A, there is a discontinuity between people who govern and people who are governed.
It wasn't a real strike......you have to have a real job before you can strike.....they are boycotting gasoline, maybe ! "A corporation is just a partnership that got so big.....they had to pass out numbers !"....Monedas 2012 We do black people no favor by coddling and deluding them and patronizing them and talking down to them like a google of liberal pimps ! Monedas 2012 Tough love is the highest manifestation of love.....and I have more than the entire "Liberal Uniworse" !
Obama was probabnly going to drop some bombs of peace on them if they striked.
They need to understand: a strike on Iran would mean less oil to consume globally.
US citizens do not want to foot the bill, they want to keep consuming as everything does.
Somebody has to tighten the belt,somebody has torelinquish so that US citizens can still pump their gas at a fair price.
Nigeria was elected.
US world order.
Seems like the WTI traders not only control the machines to make the trades...But the headlines as well...Big surprise...Nothing shocking!!!
Monedas' "Blind" Movie Reviews ! I review stupid liberal content movies without having to punish myself by seeing them ! "The Iron Lady"........Maggie Thatcher is "A Golden Lady" ! Meryl Streep is a "Street Stripping Slut" ! Liberals have no class....that's why they dream of a classless society....where maybe they'll feel at home ? Let's do a "Nigerian Boycott" of "The Iron Lady".....and I give the movie a "5 Necklass Party Burning Tire" negative rating ! Monedas 2012 I won't even see it when it's free.....they'll have to pay me to see it !
Sweet, now they can release that money from the Nigerian Ministry of Minerals and I can get paid!
This is going to be epic!
pods
Wall Street connected western multi-national oil corporations have been practicing the policy of ‘divide and rule’ among Nigeria’s Muslim north (51%) and Christian south (42%) for decades. In the past, the western vultures have assassinated Muslim government leaders to bring pro-West military regime changes. Last month, Nigerian went into ethnic frenzy; killing each other and burning mosques and churches.
However, something strange happened on January 1, 2012 – when country’s Christian President Goodluck Jonathan lifted fuel subsidies as demanded by the IMF, leading to doubling of petrol prices overnight. As result mass protests began immediately, uniting both Muslim and Christian communities. On Friday, Muslims held 1 Million March Occupy Ojota for Friday prayers.
http://rehmat1.wordpress.com/2012/01/14/poverty-unites-nigerian-muslims-and-christians/
Wargames..from a strategic game perspective, if Iran is bold they could win and destroy the Western economies along with Japan...put it this way..Obama has crashed Iran's economy, 20% inflation and they are corned like a cat. Also, I read an article here last week how the "West", Defunct Europe, Japan & Korea would make up for the loss of Iran's oil with Oil from Saudi Arabia, Qatar, and Kuwait..In this game, If I am IRAN, I go "ALL IN" because as far as I can tell Obama is weak. What I would do during a training exercise, while the US Navy knows we are in the area is Pre-emptive missles into Saudi Arabia, Kuwait, and Qatar, and launch a few into Northern Iraq Oil fields. At the same time I am hitting those countries Oil fields, while my speed boats and destroyers are in the gulf "playing" is I turn those boats into suicide boats and hit the US precious carriers...
What's Obama gonna do?...he just lost potentially three carriers, IRAn would get at least one..(splash that all over the media) and now the excess demand slack, that was going to be picked up by Saudi Arabia, Kuwait, Qatar, and Iraq is offline...This makes the price of OIL explode and the whole energy complex rips...This sends US economy in a tailspin, is the death nell for Europe as it's the proverbial straw that breaks the camels back..In addition, Obama can bomb the reactors, but at this point who cares, because the economies are crippled, also Obama just can't do random bombings of Iran as you would be hitting pro-western civilians...Putin and the Russians then come in with China and support Iran..The US military, though mighty, cannot fight with a economically crippled and weak-kneed Europe, and Japan has no standing army..Pakistan salivates and starts attackin all UN convoys, (anything with a light blue helmet), and US afhanistan installations....The question, becomes what does India do with it's nemesis Pakistan going crazy on the UN and US forces and a billion Chinese supporting it....
Face it the US is pucked if it attacks IRAN and IRAN is bold....I believe Obama has gotten alittle cocky with Libya, Egypt, etc ..and is about to get his enormous chicago ego stuffed in his face, but then again he'll blame someone else, while breaking the military and throwing the US into a horrible depression
"So, does this mean that the Iran embargo is back on, and the joint US-Israel wargames are set to resume as "budgetary" conditions have loosened?"
My money for the next news scare is on Venezuela. Chavez says that the U.S. gave him cancer. Someone from the Squid will get him to say he is cutting off all oil to the U.S. for a campaign donation or the like.
I am glad that I am not the only noticing this news farce. The same old stories (Nigeria, Iran) are being used to keep oil higher. Consumers are paying nearly 7x as much for one BTU of nat gas than they are for oil.
Why do I get the feeling the Squid was long oil and is the process of going short? The futures say oil falls between April and November.