Ghana to lose 50% oil revenue if crude oil price continues to fall

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• Ghfuo: Be Bad & Hang Nyantakyi, NOW! 10 years ago

  To $20/15 bucks....2016 will be better

  To $20/15 bucks....2016 will be better

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• ELINAM 10 years ago

  We're lazy bunch who put all our hopes in 100,000 barrel a day crude oil which from the get go did not offer us any better deal.We have land to cultivate and give our ppl the best education the world could offer but rather, w ...
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  We're lazy bunch who put all our hopes in 100,000 barrel a day crude oil which from the get go did not offer us any better deal.We have land to cultivate and give our ppl the best education the world could offer but rather, we want to use the money on MPs and politicians to be big with bigger cars.
  If oil producing countries that produce 10x what we're producing but could not do well,how come with the mind set we have we think that could take us to the promise land without improving our human and natural resources?
  Disappointment and depression is what we gonna see as we put all our eggs in one nasty and rotten basket.
  SERIOUS AGRIC IS THE WAY!
  
  OUR COLLECTIVE BRAIN IS OUR CRUDE OIL.
  LET'S SPEND MONEY TO POLISH IT THROUGH WORLD CLASS EDUCATION and stop investing in cars for big men.
  With good education and research, we could make everything and make them cheaper and then the big men and all can enjoy the luxury from our own hands.
  But no, the big men who are behaving like spoilt kids do not wanna wait, they wanna be like the only kid with the only big toy and for that selfish attitude devoid of common sense and love for others, we're all suffering including the MPs.

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• JAMES Y 10 years ago

  Of course, a fallen revenue is expected. Like cocoa and other of our extractive minerals, crude oil is a primary commodity with a vagrant price tag. As the current supply of the commodity is high relative to the demand for it ...
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  Of course, a fallen revenue is expected. Like cocoa and other of our extractive minerals, crude oil is a primary commodity with a vagrant price tag. As the current supply of the commodity is high relative to the demand for it, the price will fall and impact on the country's revenue as a producer. Ultimately, the outcome will affect its budgetary arrangements. This is why there should be plan a 'B' in its proposals.

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• ELINAM 10 years ago

  We projected a certain windfall at a certain short period to pay off all the loans we took to invest in these high-priced or big-item investments, but the way the IMF/WB make a slave out of you as they did to the housing mark ...
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  We projected a certain windfall at a certain short period to pay off all the loans we took to invest in these high-priced or big-item investments, but the way the IMF/WB make a slave out of you as they did to the housing market here in the US which saw people's house values depreciated to a quarter of their total mortgage, is to pull the rug out of your feet so as to make you a slave to them forever.
  
  Now with revenues slumped, we gonna die trying to pay off all the loans we took to pull these white elephant projects. Up till now we could not use one litter of gas to power our generators to increase the power that we so much want. And by next year, the loan master will be on our neck for his payments which we not have as we're not able to sell the gas, then we'll go into a default with high interest that could kill god accruing by the minutes.
  OUR BIG MEN AND SO-CALLED EDUCATED GHANAIANS have failed to study the enemy and to master his mode of operation.
  
  DEVELOPMENT PARTNERS INDEED.
  
  WELCOME TO THE PLANTATION GHANA

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• ELINAM 10 years ago

  ... the.loan master will be on our necks for his payments which we may not have......

  ... the.loan master will be on our necks for his payments which we may not have......

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• De Feelgood 10 years ago

  Ghana must not loose hope.It is true that oil prices will remain low for at least years and cause a budget crisis. This is more the reason why we should check corruption with fire.

  Ghana must not loose hope.It is true that oil prices will remain low for at least years and cause a budget crisis. This is more the reason why we should check corruption with fire.

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• The mask 10 years ago

  Some parties in power tend to reward people and communities that they like and neglect other communities. This may be based on ethnic groups or votes garnered. Some people are not happy with the state of affairs.
  
  Some peop ...
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  Some parties in power tend to reward people and communities that they like and neglect other communities. This may be based on ethnic groups or votes garnered. Some people are not happy with the state of affairs.
  
  Some people have had this problem from independence. How Ghana is presently constituted or governed must change.

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• mohammed 10 years ago

  Which Country is gaining the 50% revenue? it is going to the people pockets to increase the disposable income to spend and create more jobs and taxes if the Ghana economy was free market. but, we have a sticky market where th ...
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  Which Country is gaining the 50% revenue? it is going to the people pockets to increase the disposable income to spend and create more jobs and taxes if the Ghana economy was free market. but, we have a sticky market where the government regulate and control prices of petrollium products so that they can line their pockets. we have to allow free market.

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• Osei 10 years ago

  THE MINORITY AND SMART PEOPLE OF OUR BELOVED GHANA WARNED THE GOVT. ABOUT THE DANGERS OF USING "UNEARNED OIL REVENUES" AS COLLATERAL FOR CHINESE LOANS, BUT THESE CROOKS WERE READY TO CHOP THE OIL MONEY BY AWARDING CONTRACTS A ...
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  THE MINORITY AND SMART PEOPLE OF OUR BELOVED GHANA WARNED THE GOVT. ABOUT THE DANGERS OF USING "UNEARNED OIL REVENUES" AS COLLATERAL FOR CHINESE LOANS, BUT THESE CROOKS WERE READY TO CHOP THE OIL MONEY BY AWARDING CONTRACTS AND INFLATE COSTS. NOW THEY HAVE TO MAKE UP FOR THE DIFFERENCE. PREVIOUS GOVERNMENTS MANAGED WITHOUT OIL REVENUES THIS SHOULD NOT BE A PROBLEM. THEY NEED FREE SHS TO RULE GHANA.

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• KBI 10 years ago

  Before oil was discovered,what were we as a nation depending on?so we have put all our eggs into one Basket.how sad it is for a small nation with such a vast natural resources lack infrastruture after fifty something years of ...
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  Before oil was discovered,what were we as a nation depending on?so we have put all our eggs into one Basket.how sad it is for a small nation with such a vast natural resources lack infrastruture after fifty something years of independence .
  And those who are trying to create their own livelihood are also having proble with electricity supply.
  All what we know best is politics,insult,slandering,etc

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• ******* 10 years ago

  After all the, bulk of the revenue from oil finds its way into dodgy pockets.

  After all the, bulk of the revenue from oil finds its way into dodgy pockets.

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• osei 10 years ago

  Is not true cos ghana government said is only 10%

  Is not true cos ghana government said is only 10%

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• K Man 10 years ago

  But weren't the loans and bonds that have been taken up by government supposed to be used to develop the country.
  
  Sounds like there will be more excuses. How can a prudent government not have a back up/contingency plan, es ...
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  But weren't the loans and bonds that have been taken up by government supposed to be used to develop the country.
  
  Sounds like there will be more excuses. How can a prudent government not have a back up/contingency plan, especially as the price of oil does fluctuate.

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