Comments on: Rising Prices, Rising Crises

By: St Louis Missouri

St Louis Missouri — Sat, 10 May 2008 02:37:36 +0000

History always repeats itself.. and like any other cycle we will swing back up, but only after fortunes are lost.

Great post, I love reading your stuff – thanks

By: Tom Lindmark

Tom Lindmark — Thu, 08 May 2008 05:11:01 +0000

Good article. I agree with your insights. I’m afraid we might be reliving the 70′s. Here’s a link for an article I did on Paul Volker’s recent comments in this regard- http://blog.metro-real-estate.com/?p=211.

By: Fredd Kambo

Fredd Kambo — Wed, 07 May 2008 12:30:26 +0000

David,

Good post. I used to work for a major oil company and one of the recurring arguments I had with friends and acquaintances was the extent to which my employer was “exploiting” Nigeria. The truth is, multinational companies have very little to do with the looting and exploitation of the country. For one thing, the main oil company operating in Nigeria is actually a JV between the Nigerian government and the multinationals. The JV is majority owned by the government. Further, the government receives about 95% of the profits from oil, with 5% being shared amongst the other JV companies. As you point out, this huge windfall of wealth is a powerful incentive for corruption and malpractice by the very people who are supposed to be the stewards of a nation’s wealth. But I must add that things are getting better, and I remain an optimist.