ANALYSIS Finance Minister Ngozi Okonjo-Iweala's resolve to isolate fraudulent oil marketers in payment of fuel subsidy, based on a report of an investigation panel, had a backlash last week. Though NUPENG has returned to work, there are fears that difficult times lay ahead. A typical scenario of how pockets government funds were pumped into the tanks of oil marketers in the name of subsidy goes thus: "Conoil imported 19.820 million litres of PMS (petrol) with Form M No.1078673 and mother vessel bill of lading dated 31/08/2011 for which N1,532,684,020.31 was paid subsidy. This payment was made ahead of external auditors' verification in line with the PPPRA procedure; however external auditors did not subsequently verify the claim. Discussion with PPPRA showed this payment was yet to be verified by the external auditors due to their error in sending the verification request to Akintola Williams Delloite instead of Adekanola & Co who witnessed the vessel discharge. Akintola Williams Delloite returned the request unsigned and before they could be sent to Adekanola for their signature, both firms had been disengaged from further participation in the subsidy payment process. "Differences were noted between the observed volume of litres in the shore tank certificates and the volume in litres used to calculate the subsidies claimed. This is in violation of the requirement of the PSF guidelines that the volume of products for which subsidy is paid should be paid based on duly signed shore tank certificates. The total value of the overpayment in this respect was N33,383,300.79." The scene above was real, according to the report of the Federal Ministry of Finance subsidy claims verification committee headed by the Group Managing Director of Access Bank Plc, Mr Aigboje I. Aig-Imoukhuede. Here we observe the lack of due diligence on the part of the Petroleum Products Pricing and Regulatory Agency (PPPRA), which made payments when external auditors and independent

The EPA is Screwing You Oh, this one just keeps getting better and better... The EPA - or what I like to call the Environmental Pawn Agency (because since its inception in 1970, it has served as an excellent pawn for whoever happens to be squatting at the White House at the time) - decided a few years back that it would allow higher concentrations of corn-based ethanol in gasoline. Why would the EPA do that? Two reasons: Big Ag worked around the clock and "donated" millions of dollars to various campaigns to ensure that this particular welfare scam keeps funneling taxpayer dollars away from our paychecks and into the hands of ADM, Cargill, and Monsanto - the latter being Obama's "inside guys" who continue to dictate agricultural policy. Who do you really think drafts the farm bill? The government is terrified by the reality that this country's economy is directly tied to its reliance on something that it absolutely must get from other countries, including those who seek to destroy what they lovingly refer to as the "Western Imperialist regime"... and a little extra corn in the tank provides a bit of breathing room. But not everyone's doing cartwheels over these higher concentrations of corn-based ethanol... A handful of grocery associations, petroleum groups, and automakers actually filed suit against the EPA back in 2010 in an effort to challenge the new rule... They came up short as the U.S. Court of Appeals sided with the EPA last week, citing the various groups' inability to prove that they've been harmed by the increased concentrations that would add another 5% to what's being blended currently. Some folks claim the court's decision is irrelevant because few will sell the increased blend, as they don't want to be held liable for potential damage to engines caused by these higher blends. I don't know much about whether or not the higher blends will damage engines. But I do know that relying on more corn-based ethanol to displace a bit

solamonalt : OFFERS INSIGHT AND PROVIDE THE PUBLIC WITH A DEEPER UNDERSTANDING ON THE AVAILABILITY AND VIABILITY OF ALTERNATIVE FUEL SOURCES Energy expenditure is not only in energy we use for industrial, residential and commercial purposes, but also on the automobile sector. It is undeniable that the number of automobiles around the world alone (and their subsequent use of fuel) is already a very large contributor in polluting nature. The possible options we'd like to see the governments consider for use in the future and are being explored in the present are fuel cells, biofuel and batteries.

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solamonalt : Solamon Alternative Energy offers insight and provide the public with a deeper understanding on the availability and viability of alternative fuel sources that can be used instead of the usual oil and petroleum we have today. Energy expenditure is not only in energy we use for industrial, residential and commercial purposes, but also on the automobile sector. It is undeniable that the number of automobiles around the world alone (and their subsequent use of fuel) is already a very large contributor in polluting nature. The possible options we'd like to see the governments consider for use in the future and are being explored in the present are fuel cells, biofuel and batteries.