Nigerian Government: Oil Could Become Worthless

Nigeria needs to make the best of its oil wealth before it becomes worthless, the federal government has warned, adding to a growing concern about the future of the world’s most used and most traded commodity. As the world moves towards a more renewable energy future, crude oil’s participation in the global energy mix will decline over the next two decades, Nigeria’s petroleum minister, Timipre Sylva, said during a meeting with parliamentary leaders. The meeting was called to discuss the petroleum Industry Bill that should reform…