BC ECONOMY

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Akin Akinwale
@mrlurvy 5 years, 7 months ago 510 views

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What you need to know about Nigeria’s Petroleum Industry Bill.

Crude oil dominates Nigeria’s economy, accounting for around 90% of export earnings. #NigeriaNeedsPIB

The country has the largest oil and gas reserves in sub-Saharan Africa with an estimated 37bn barrels of oil and 188 trillion cubic feet of gas. #NigeriaNeedsPIB

Yet for decades, the virtually ungovernable industry has been plagued by poor leadership, eye-watering corruption and environmental degradation. #NigeriaNeedsPIB

Value has leached away through opaque licensing deals, unaccountable middlemen, a lack of refining capacity and graft in the government and state-owned Nigerian National Petroleum Corporation (NNPC). #NigeriaNeedsPIB

Sabotage and pipeline theft in the oil-rich Niger Delta have ensured that the taxpayer loses out on billions of dollars in annual revenues. #NigeriaNeedsPIB

Nigerian administrations since the 1960s have – with varying degrees of effort – failed at reform. #NigeriaNeedsPIB

In the last 20 years, multiple governments have attempted to pass an all-encompassing Petroleum Industry Bill (PIB), the scope and complexity of which has ensured repeated failure. #NigeriaNeedsPIB

What changes under the new bill?

The new bill could offer a radical departure from past norms. The bill plans for the selling of shares in a reformed NNPC, the replacement of regulatory bodies, and the reduction and streamlining of royalties. #NigeriaNeedsPIB

The legislation suggests the NNPC should become “a commercially oriented and profit-driven national petroleum company” independent of government and audited annually, although no dates are yet given for a share sale. #NigeriaNeedsPIB

The PIB could also boost the amount of money companies pay to local communities and for environmental cleanups, introduce new dispute-resolution mechanisms between government and oil companies, and set up a midstream government infrastructure fund. #NigeriaNeedsPIB

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Yaneer Bar-Yam
@yaneerbaryam

The International Monetary Fund (IMF) is analyzing damage due to COVID and projecting further severe consequences if current policies persist. They state “despite involving short term economic costs, lockdowns may lead to faster economic recovery by containing the virus”

1/

Note: This report doesn’t do a dynamic analysis that makes things much clearer, but it does a thoughtful statistical analysis based upon increasingly available data.

https://t.co/5Xmt8y7lCL

A few more quotes:

2/

“The analysis also finds that lockdowns are powerful instruments to reduce infections, especially when they are introduced early in a country’s epidemic and when they are sufficiently stringent.”

3/

“lockdowns become progressively more effective in reducing COVID-19 cases when they become sufficiently stringent. Mild lockdowns appear instead ineffective at curbing infections.”

4/

“The results suggest that to achieve a given reduction in infections, policymakers may want to opt for stringent lockdowns over a shorter period rather than prolonged mild lockdowns...

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Richard Murphy
@RichardJMurphy

I keep hearing people complain that the ‘mainstream media’ does not understand economics and that we’re talked down to as if everything must be explained as if the economy is a household. In this thread I explain all you (and they) need to know. Economics in one thread then....

Very few people seem to understand how money is created. Mainly that’s because when they’re told it seems so simple that they can’t believe something that’s so important that we’re willing to pay a lot to get it is created so easily. This thread explains how money is created.

What this thread also explains is that if we understand money we can completely reimagine how the economy really works, which is the pathway to rebuilding from the mess we are in. Which makes this a pretty big deal. I make no apology for its length as a result.

Let’s start at the very beginning. A person goes into a bank and asks for a £1,000 loan. The bank checks them out, and agrees. And that is all that it takes to create new money. Money is just a promise to pay. That simple exchange of promises is all it takes to create it.

Most people think there must be something that backs up the value of money. Gold, most likely. But there isn’t. Money is just a promise to pay, and has been for almost 50 years now. Mutual promises to pay creates all the money we have.

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Michael Dougan
@mdouganlpool

Lots of requests for a "step-by-step" guide to where we are with the EU-UK negotiations.

So here you go - short thread summarising the essential context & key points / issues:

1) UK formally left EU in January 2020 but entered a "transition period" during which nothing very much changed: meant to give time for negotiations over future EU-UK relationship in fields like trade and security; based on "Political Declaration" as agreed by Johnson Government

2) Political Declaration envisaged only distant EU-UK relationship: partly logical consequence of Theresa May's longstanding "red lines" on free movement etc; but also result of renewed political preference, by Johnson Government, for even more extreme "clean break Brexit"

3) But almost immediately after UK withdrawal, Johnson Government changed the goalposts in ways that can only be described as cynical, untrustworthy and reckless. Started by tearing up large parts of Political Declaration: even its distant ties were no longer distant enough...

4) ... & continued with new red lines / fresh demands reflecting Johnson's (frankly tedious) belief that UK should "have its cake and eat it". So: back to square one - yet UK refused extension to transition period, to give more time for negotiations - even after onset of pandemic

Dr. Paige Harden
@kph3k

The “Should we get rid of the GRE?” conversation and the “Should we pay undergrad RAs $15/hour?” conversation have three things in common that I think are really unfortunate — 🧵

(For the record, I personally think we should keep the GRE and that the minimum wage should be $15 but I know a lot more about psychometrics than labor economics so I’m more confident about the former opinion)

1- lack of clarity regarding whether a proposed change is seen as a morally good END in itself, versus a MEANS to another end, and if the latter what that end is

1b - for instance, I don’t care whether or not capital punishment deters crime; it’s instrumental purpose is irrelevant to the fact that I think it’s a moral wrong

1c -for the GRE, do you think testing is Bad, regardless of its utility? Or do you think that under representation of some racial groups is Bad? Or do you think the racial wealth gap is Bad? people rarely clarify what ultimate wrong they are trying to right

$Timoth\xe9e Parrique$

Timothée Parrique
@timparrique

What a year: 203 essays about degrowth in English since the beginning of March. Here is a selection of some of my favourites. Thank you @fem_degrowth, @beth_stratford, @thedownshifters, @corbinkbarthold, @degrowth_info for these brilliant texts.

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https://t.co/1lFaJM52RX

https://t.co/i5HOfZ19r7

https://t.co/DuPSrrqnzz

https://t.co/0ANveWdvFO

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Antonio García Martíne...
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Ok, I'll hop on this Elizabeth Warren/Native American testing bandwagon (gently and non-politically).

I've been a @23andMe customer for a while, and have followed their ancestry updates closely.

All is more or less as expected....except for this bit about Native American.

The family is almost completely composed of Spanish peasants (from various regions) who emigrated, along with a massive wave in the late 19th-cent./early 20th-cent., to Cuba back when it was a booming economy (richer than Spain's) and worth emigrating to (Communism killed that).

Also, the native population of Cuba was annihilated early on---was the first place the Spanish colonized after all. Having a native background in Cuba would be like having the same in, say, Massachusetts, particularly if you're (say) mostly Irish. Just really, really unlikely.

(Note: the North African/Arab background is less mysterious. The Iberian peninsula was part of the Muslim world for centuries. It would be odd *not* to have some Arab/Middle Eastern background coming from Spain. Given the family is mostly from Northern Spain, it's small though.)

I have a Spanish passport, have been back to the ancestral villages in Spain, seen the church where my grandmother was baptized, my grandfather told me stories about growing up as the child of Spanish colonists in rural Cuba. The native bit just clashes with all the family lore.

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ArmaniTalks 🎙🔥...
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A relationship begins to get stiff when excessive patterns begin to form.

Too many patterns leads to a boring, predictable, logical lifestyle.

Get the emotions involved.

Do something spontaneous out of the blue moon & flip the script.

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Nothing is wrong with patterns.

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It's boring.

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Sure 👇

The thing with relationships is that it's meant to be an emotional experience.

It's very difficult to logically explain love, right?

'Right.'

Well this is where you want to steer the ship the right way.

1. Too emotional is bad.

2. Too logical is bad.

Let me break it down.

1. Too emotional

If a relationship is completely ruled by emotions, then it's too volatile.

You will never reach productivity if you are aimlessly only following each others emotions.

This lifestyle tarnishes any structure for the couple.

'So why do people do it?'

Because it's fun.

You may ruled by this stage in the honeymoon phase.

Normal.

You'll be so spontaneous that it almost becomes a lifestyle.

But it's hard to level up your life when you're too spontaneous.

Avoid.

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Men actually cum faster when having sex with someone they love

Haha y'all fw this tweet very well 😀

So why we're here lemme show you guys WHAT IMPRESSES A MAN MOST IN BED

Sweetie I wanna remind you that every Good sex😍 is based on mutual respect and love❤, so make sure that the guy you’re fucking is worthy of you.

. and never waste effort on a guy who isn't worth it. But as long as you’re convinced of the hero-status of this guy, your endeavours will never be wasted❤.

So Below Are Things He's Secretly Dying for You to Try In Bed👇

• BABE FUCK HIM WITH THE LIGHTS ON😋💡

Men loves it when they see their dick going in and out of our pussy🍑 —They love it so much.

They love to see our creamy💦 pussy wet their dick🍆— They fucking love it 😍

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Vibhu Vashisth
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Timur Lang decided to invade India in 1398 as he heard about India's splendid wealth and had a desire to conquer India which his ancestor Genghis Khan couldn't do.

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