Column

Spreading The Joy In The State

Published

5 years ago

January 13, 2021

Let me begin this catalogue with the words of a quintessential musical Icon Beyonce.
“In our perfect ways. In the way we are beautiful. In the ways we are human.
We are here. Happy New Year. Let’s make it ours.
A year that is just 13 days old is still new. Isn’t it? After all C.S. Lewis said “you are never too old to set another goal or dream a new dream”.
The year 2021 has come to the people of Rivers State as a year of promise and restoration.
It is a thing of great pleasure that the Governor of Rivers State, Chief Ezenwo Nyesom Wike himself has set the first agenda for the year. The people’s Governor did not only set the agenda for infrastructural development for the year which is his usual forte, but he also proclaimed a hallowed message laden with moral restitution, when he said inter alia: “Let us eschew the recriminations, turn a new page on the hatred that has kept us divided, forgive one another and together work towards making our dear state the best place on earth to live, do business and bring up our children”. This message of hope and forgiveness is a soothing balm for the hatred and hopelessness of yesterdays.
In the last edition of CATALOGUE, this column catalogued a long tale of a reporter’s Bloody Dairy at the end of the year that has been described in most despicable manner which reflects a year that is better forgotten. A comedian joked at an event during the yuletide that the year 2020 should not be added to his age. In his words, “it should be deleted, because it counted for nothing.
However, 2020 had fire flies of goodness in its enveloping darkness of gloom and near doom occasioned by COVID -19, protests, strikes, recession and insecurity. It takes a good leadership to bring back hope and prosperity to the people. Governor Wike did not allow the year to go without visible projects.
Worrien Bennie, said leadership is the capacity to translate vision into reality”. Governor Wike’s recent road show on the inauguration of projects in the local government areas of the state including the state capital can best be described as spreading joy to all parts of Rivers State.
This spreading of the dividends of democratic deliverables to local government areas outside the state capital, is an eloquent response to arm chair critics who have refused to see any infrastructural development by Wike administration outside Port Harcourt.
This spreading of joy is the main thrust of the New Rivers Vision. It is a demonstration of good faith and integrity, in a leadership that keeps its promise to the people. Napoleon Bonaparte was right when he said that “a leader is a dealer in hope”. The New Rivers Vision is a testament of hope.
The continued inauguration of projects in the state which is a carryover of government activities in the last days of 2020 is a manifestation of hope brought to life.
On Monday the 4th of January 2021 the inauguration of Eteo-Sime-Nonwa-Kira road in Tai Local Government was the curtain raiser for project actualization in 2021.
The Governor of Bauchi State, Bala Mohammed cut the tape to signal the completion of the project.
Other projects in the local government areas of the state include; January 5, 2021, inauguration of Saakpenwa – Bori Road, inaugurated by the Governor of Enugu State Ifeanyi Ugwuanyi.
The 6th of January was the turn of Eleme – Afam Road which was inaugurated by Senator Ali Ndume.
Abonnema Ring Road in Akuku Toru local government area was unveiled on the 7th of January 2021, while Olumeni and Harley Street which are part of the urban renewal project were officially declared open on the 8th of January.
Last week’s spreading of joy around the state through the inauguration of projects was complete with the unveiling of Bonny-Bille water side jetty in Port Harcourt. Emohua and Ikwerre LGAs also benefited from the inauguration train and we are still counting.
An anonymous writer once wrote what looks like a toast for the New Year, thus “let our New Year’s Resolution be this: We will be there for one another as fellow members of humanity, in the finest sense of the word”.
This is a toast for the New Year in which all our glass cups must cling to, as a people.
The hallowed message by the Governor of Rivers State Nyesom Wike that we must make our state the best place on earth to live, do business and bring up our children is a call on us to live out our humanity in full.
The atmosphere of recriminations and orchestrated political rancor brought about by inter party and intra party bickering is a betrayal of humanity. Rivers people owe this generation and the generation unborn the culture of peace building and peace making in every endeavour, including politics.
When a leader leads by good examples, it behoves on the followers to follow and do the same. Governor Wike has led by example.
Political commentators have continued to remind us that the third tier of government has a place in the constitution to bring development to the door steps of the people at the grass roots.
How well have political leaders at this local government level been able to play their roles in complimenting the efforts of State and Federal Government.
If and when political, actors at this level of Government carry out their responsibilities in infrastructural development, much more joy in terms of democratic dividends will spread to all corners of the state.

By: Bon Woke

Column

Are the Bears Wrong About the Looming Glut in Oil?

Published

37 minutes ago

September 8, 2025

The Tide

The oil market is oversupplied while demand growth is slowing down. This has become the dominant assumption among oil traders over the past two years, repeatedly reinforced by analyst outlets. Assumptions, however, are often wrong, especially when not based on physical data.

The International Energy Agency’s latest monthly report, for instance, said that the world is facing a record overhang of crude oil, set to unfold in the final quarter of this year and extend into the first months of 2026.

The expected glut was attributed to lower-than-expected oil consumption in several large developing world markets, combined with rising production in both OPEC+ and elsewhere, notably in the United States, Canada, Guyana, and Brazil.

The investment banks also see a glut, as they tend to do unless there is a war breaking out somewhere.

Goldman Sachs recently forecast Brent crude would drop below $55 per barrel next year, citing a supply overhang of 1.8 million barrels daily at the end of this year, very much in tune with the IEA.

Morgan Stanley is more guarded in its forecasts but still assumes abundant supply, as does ING in most of its regular commodity market notes. But there are some exceptions.

One of these has recently been Standard Chartered, which has bucked the trend of doomsaying among oil price forecasters, noting bullish factors that other forecasters either ignore or overlook.

The other is Oxford Energy, which this week released a report taking a close look at the physical oil market. Surprisingly, for many, the physical market does not show evidence of a glut forming anytime soon.

Crude oil inventories are always a good place to start, and that is exactly where Oxford Energy starts, noting that inventories in the OECD have only gained a rather modest 4 million barrels over the first six months of the year.

This modest increase means OECD oil stocks are still substantially below the five-year average, the research outlet noted, adding that the gap with that average was 122 million barrels.

The inventory situation is similar in the United States as well, even though the benchmarks slide every Wednesday when the U.S. Energy Information Administration reports a crude inventory draw.

Over a longer period, however, inventories have trended down, suggesting demand is pretty healthy and the threat of a massive glut may well be a bit exaggerated.

So, what about inventories outside of the OECD and outside of the United States? China, notably, has been building up its oil in storage, taking advantage of discounted sanctioned Russian crude.

Earlier this year, media reports said Chinese crude oil inventories had hit a three-year high, suggesting demand growth was lagging behind refinery processing rates.

There have also been repeated warnings about slowing oil demand in the world’s largest oil importer—even when imports increase and so do processing rates at Chinese refineries.

Oxford Energy notes, however, that since China does not report inventory information, it is difficult to get an accurate number on oil stocks and estimates produced by data trackers vary too widely to offer reliable information.

Another factor to take into account when studying oil price prospects is floating storage, according to the analysts. This boomed in 2020 when lockdowns decimated demand and supply turned excessive.

After the end of the pandemic, oil in floating storage declined before rising again amid Western sanctions on Russia. Still, Oxford Energy notes, the level of oil in floating storage remains below the levels reached in 2022.

Then there is the matter of oil products. If there is too much supply around, some of it would go into storage—including expensive floating storage—but the rest would be turned into fuels and other products.

Once again, all eyes are on China, where another surprise is waiting. Per Kpler data cited by Oxford Energy, oil product exports from China have not gone higher.

They have actually gone down by 10% and remain weak. One reason for this is, of course, government quota-setting. Another, however, may well be healthy demand for fuels at home.

As the oil market awaits OPEC’s next meeting to start exiting its positions in anticipation of that glut, it may be wise to keep the physical market in mind, along with the fact that the IEA has repeatedly had to revise its own forecasts as physical world data comes in and refutes them.

More interesting, however, is this quote from a recent note from ING analysts: “The scale of the surplus through next year means it’s unlikely the group [OPEC+] will bring additional supply onto the market.

“The bigger risk is OPEC+ deciding to reinstate supply cuts, given concerns about a surplus.”

If there is a massive surplus on the way, any new cuts from OPEC+ should have a limited effect on prices, just as they did over the past two years. But maybe that massive surplus is not so certain, after all.

Column

Renewable Energy Faces Looming Workforce Crisis

Published

3 weeks ago

August 18, 2025

The Tide

Despite a discouraging political climate and unprecedented uncertainty in the United States clean energy sector, low costs of wind and solar energy continue to drive growth of the domestic clean energy sector.

However, while market forces continue to support the expansion of renewable energy capacity, the sector faces critical challenges extending beyond the antagonism of the Trump administration.

The continued growth of solar and wind power risks being hampered by several mitigating factors, including (but not limited to) intensifying competition over increasingly scarce suitable land plots, stressed and volatile global supply chains, lengthy and unpredictable development processes, Complex and overlapping permitting processes, and a critical talent gap.

The renewable energy labor shortage has been years in the making, but is no less closer to resolution. The issue spans both white collar and blue collar positions, and threatens to kneecap progress in the booming sector.

Between the years of 2011 and 2030, it is expected that global levels of installed wind and solar capacity will quadruple. Analysis from McKinsey & Company concludes that “this huge surge in new wind and solar installations will be almost impossible to staff with qualified development and construction employees as well as operations and maintenance workers.

“It’s unclear where these employees will come from in the future,” the McKinsey report goes on to say.

He continued that “There are too few people with specialized and relevant expertise and experience, and too many of them are departing for other companies or other industries.”

The solar and wind industries are suffering from a lack of awareness of career paths and opportunities, despite their well-established presence in domestic markets.

Emergent clean energies face an even steeper uphill battle. Geothermal energy, for example, is poised for explosive growth as one of vanishingly few carbon-free energy solutions with broad bipartisan support, but faces a severe talent gap and punishingly low levels of awareness in potential talent pools.

But while the outlook is discouraging, industry insiders argue that it’s too soon to sound the alarms. In fact, a recent report from Utility Drive contends that “solutions to the energy talent gap are hiding in plain sight.”

The article breaks down those solutions into four concrete approaches: building partnerships with educators, formulating Registered Apprenticeship pathways, updating credential requirements to reflect real-world needs, and rethinking stale recruitment strategies.

Targeting strategic alliances with educational institutions is a crucial strategy for creating a skilled workforce, particularly in emerging sectors like geothermal energy.

Businesses can, for example, partner with and sponsor programs at community colleges, creating a pipeline for the next generation of skilled workers. Apprenticeships serve a similar purpose, encouraging hands-on learning outside of the classroom. Such apprenticeships can apply to white collar positions as well as blue collar roles.

“If we can figure out a way to educate the younger generation that you can actually have a career that you can be proud of and help solve a problem the world is facing, but also work in the extractive industry, I think that could go a long way,” said Jeanine Vany, executive vice president of corporate affairs for Canadian geothermal firm Eavor, speaking about the geothermal energy talent gap.

These approaches won’t solve the talent gap overnight – especially as political developments may discourage would-be jobseekers from placing their bets on a career in the renewables sector. But they will go a long way toward mitigating the issue.

“The clean energy transition depends on a workforce that can sustain it,” reports Utility Drive. “To meet the hiring challenges, employers will benefit from looking beyond the next position to fill and working toward a strategic, industry-wide vision for attracting talent.”

By: Haley Zaremba

Column

Is It End For Lithium’s Reign As Battery King?

Published

1 month ago

August 1, 2025

The Tide

Lithium-ion batteries power the world around us. Their prevalence in our daily life is growing steadily, to the extent that lithium-ion batteries now power a whopping 70 percent of all rechargeable devices.

From electric vehicles to smartphones to utility-scale energy storage, lithium-ion batteries are increasingly forming the building blocks of innumerable sectors.

But despite its dominance in battery technologies, there are some serious issues with lithium supply chains that make it a less-than-ideal model upon which to base our world.

Not only is extracting lithium often extremely environmentally damaging, it’s deeply intertwined with geopolitical pressure points. China controls a huge portion of global lithium supply chains, rendering markets highly vulnerable to shocks and the political will of Beijing.

China’s control is particularly strong in the case of electric vehicle batteries, thanks to a decade-long strategy to outcompete the globe.

“For over a decade, China has meticulously orchestrated a strategic ascent in the global electric vehicle (EV) batteries market, culminating in a dominance that now presents a formidable challenge to Western manufacturers,” reports EE Times.

The effect functions as “almost a moat” around Chinese battery production, buffering the sector against international competition.

The multiple downsides and risks associated with lithium and lithium-ion battery sourcing is pushing EV companies to research alternative battery models to power the electric cars of the future.

There are a litany of lithium alternatives in research and development phases, including – but not limited to – lead, nickel-cadmium, nickel-metal hydride, sodium nickel chloride, lithium metal polymer, sodium-ion, lithium-sulfur, and solid state batteries.

Solid state batteries seem to be the biggest industry darling. Solid-state batteries use a solid electrolyte as a barrier and conductor between the cathode and anode.

These batteries don’t necessarily do away with lithium, but they can eliminate the need for graphite – another critical mineral under heavy Chinese control. Plus, solid state batteries are purported to be safer, have higher energy density, and recharge faster than lithium-ion batteries.

While solid-state batteries are still in development, they’re already being tested in some applications by car companies. Mercedes and BMW claim that they are already road-testing vehicles powered by solid-state batteries, but it will likely be years before we see them in any commercial context.

Subaru is on the verge of testing solid-state batteries within its vehicles, but is already employing a smaller form of the technology to power robots within its facilities.

However, while solid-state batteries are being hailed as a sort of holy grail for battery tech, some think that the promise – and progress – of solid-state batteries is overblown.

“I think there’s a lot of noise in solid state around commercial readiness that’s maybe an exaggeration of reality”, Rivian CEO RJ Scaringe said during an interview on this week’s Plugged-In Podcast.

Sodium ion batteries are also a promising contender to overtake lithium-ion batteries in the EV sector. Sodium is 1,000 times more abundant than lithium.

“It’s widely available around the world, meaning it’s cheaper to source, and less water-intensive to extract”, stated James Quinn, the CEO of U.K.-based Faradion. “It takes 682 times more water to extract one tonne of lithium versus one tonne of sodium.That is a significant amount.”

Bloomberg projections indicate that sodium-ion could displace 272,000 tons of lithium demand as soon as 2035.

But even this does not signal the death of lithium. Lithium is simply too useful in battery-making. It’s energy-dense and performs well in cold weather, making it “indispensable for high-performance applications” according to EV World.

“The future isn’t lithium or sodium—it’s both, deployed strategically across sectors…the result is a diversified, resilient battery economy.”

By: Haley Zaremba