Read Larry Connors' blog – Short Term Trading Strategies
The community claimed that the non-implementation of the agreement has denied them of all the benefits of oil-producing community since 1957 when crude oil was first discovered in commercial quantity there.
They calimed that till now nothing has changed despite the relative peace the oil company has been enjoying in the community unlike the restiveness in other host communities to oil companies. The community made this known when Governor Theodore Orji inspected oil facilities in the area even as they called on him to intervene on their behalf.
In their address presented by Chief Ralph Nwaele, the community demanded Shell to provide employment to their sons and daughters, as well as provide credit facilities, empower their youths, among other social responsibilities. According to them, "no credible market, none of any artisan/cottage industries built, and our graduates are massively unemployed/underemployed."
To compensate for their farmland, aquatic life and source of drinking water damaged by oil exploration, the people also called on Governor Orji to ensure that their son was appointed a member or commissioner in the Board of NDDC.
They also called for the speedy passage of the Abia State Oil Producing Area Development Commission (ASOPADEC) Bill now before the House of Assembly, and that a modular refinery be sited in the community to give them a sense of belonging.
Orji who visited some oil wells in the area, assured the community that his government would do its best to make Shell responsible to the community.
The governor also assured that the ASOPADEC Bill would soon be passed into law and urged the community to make their input into the Bill to ensure that their interest was adequately taken care of.
Orji old the people that since the recovery of the 46 oil wells the state was yet to get corresponding monetary allocation. He, however, assured them that as soon as the monetary benefit was received the community would be the first to enjoy it being the producers of the wealth.
The governor also promised that the Ariaria - Umuiku-Asa road would be one of the roads to be rehabilitated by his administration, saying that it has already been included in the budget.
More News:
Market Updates |
Stock Alerts |
All Trading News |
Stock Index
About TradingMarkets | Contact | Advertise | Careers | Link to Us | Site Map | Help | Terms & Conditions | Privacy Policy | Return Policy | Testimonials | Feedback
The Connors Group, Inc. ("Company") is not an investment advisory service, nor a registered investment advisor or broker-dealer and does not purport to tell or suggest which securities or currencies customers should buy or sell for themselves. The analysts and employees or affiliates of Company may hold positions in the stocks, currencies or industries discussed here. You understand and acknowledge that there is a very high degree of risk involved in trading securities and/or currencies. The Company, the authors, the publisher, and all affiliates of Company assume no responsibility or liability for your trading and investment results. Factual statements on the Company's website, or in its publications, are made as of the date stated and are subject to change without notice.
It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable or that they will not result in losses. Past results of any individual trader or trading system published by Company are not indicative of future returns by that trader or system, and are not indicative of future returns which be realized by you. In addition, the indicators, strategies, columns, articles and all other features of Company's products (collectively, the "Information") are provided for informational and educational purposes only and should not be construed as investment advice. Examples presented on Company's website are for educational purposes only. Such set-ups are not solicitations of any order to buy or sell. Accordingly, you should not rely solely on the Information in making any investment. Rather, you should use the Information only as a starting point for doing additional independent research in order to allow you to form your own opinion regarding investments. You should always check with your licensed financial advisor and tax advisor to determine the suitability of any investment.
HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN INHERENT LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING AND MAY NOT BE IMPACTED BY BROKERAGE AND OTHER SLIPPAGE FEES. ALSO, SINCE THE TRADES HAVE NOT ACTUALLY BEEN EXECUTED, THE RESULTS MAY HAVE UNDER- OR OVER-COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR TO THOSE SHOWN.
The Connors Group, Inc.
15260 Ventura Blvd., Ste. 2200
Sherman Oaks, CA 91403
© Copyright 2009 The Connors Group, Inc.
