The "End of Oil" could arrive in any number of ways. Startup founder Mark Essien paints a bleak picture for those that depend on its revenues solely, but he also offers a way forward:
A possible solution:Oil prices have dropped. They will continue to drop. Technology is making it feasible to get oil in places that they previously were not accessible from. The big multi-nationals are selling their oil fields in Nigeria. When you see people exiting a business, what is this indicative of?
image courtesy of Wikipedia
Oil is dying. The western world knows it, that is why they are heavily investing in converting the things that used to use oil to electric. The newest cars are electric or hybrid. This trend will continue, because there are many ways now to generate electricity from non-oil sources. 30% of Germanys electricity is renewable and non-oil. Their cars will be powered by this same electricity. What will they need Nigerian oil for?
People do not really realise this, but almost any income you see in Nigeria is trickle-down oil money. Our entire government (the biggest spender) is almost entirely powered by oil money. Even the taxes collected are re-collected oil money.
More here...The industry of producing information based intangibles is new. It’s like when countries were building cars at the turn of the last century. That’s where we are right now. If we invest right, Nigeria can become one of the top five exporters of software and software products. And when that oil dries up, our liquidity will come from the software.
