The Kenetic Pause Of Fraud In The Oil And Gas Industry – Red Alert

The Oil and Gas has almost totally replaced the ideal agriculture, which is an enhancement of the human existence. In the past, Agriculture played a prominent role in many national hegemony and this has built in such polity a relationship that connects them, not only to the ideal nation(s), but to the international community, which is a caretaker committee ensuring successful globalization and world peace.

The ILO and the WHO has provided many technique to unravel the index for International hegemony, only to find out that a bogus bridge has been created causing loops of economic sanctions; National political interference by stronger nations, senseless insurgencies, and worst of all terrorism. Funny enough, some or all of the bigwigs within and without the United Nations has furnished the primitive nature of the agro-eratic ego with the most dreaded weapons of post imperialistic enthusiasm. This was pinpointed in my earlier article submitted in the American Association of Litigators, titled “Ethical Globalization”.

Let me go proper to the purpose of this Article. Of recent, within the 20th century, oil was discovered in the Niger-Delta plateau, encompassing a vast area of the Delta Basin, with the sedimo-glycerical ecstment of decomposed mineral known as eccentric Crude Oil. With the aid of chemotographic stabilization of the Carbon, the discovery of processory fractional distillation, which is used in the separation, addition and manufacturing of Organic and Inorganic Carbons – Crude was discovered, catapulting Nigeria between 1975-1985 to oil boom, enriching in the national treasury a huge sum of economic reserve.

It is one of this process that has lead to the many petrochemical products such as petrol, kerosene, diesels, condescend, paraffin wax, Jet oil etc. But suffice also that the past 60yrs has seen the adverse effect of the proportionate distribution of this products. Rationally, it equitable distribution has also experienced incessant scarcity as well as back door involvement of fraudulent officials of the agency given the judicial privileges to control the sales, distribution, allocation, and account analysis of these numerous product from the aforementioned sedimo-glyceria.

One of these discoveries was that of crude oil, which involves various blends. Though they are one except on their specification and crude black contents, yet, they all are taken over through pipes to Refineries and Terminals either for transportations (Exports) or to specifically convert them into suitable products with their varying uses and important. PMS has made one great importance in the economy because of the availability of automobiles/locomotives.

The oil and Gas business has been very hostile to new-comers in the business, some are bankrupted, while some continue to exile, either ways, some scam expert has seen it as the only way to accrue enough wealth into the country. Some anti-fraud agencies and individuals have seen it as a degeneration of our economic, social, political, religious and cultural integrity.

With the coming of such agencies like the economic and financial crimes commission (EFCC) and Independent Crime Petition Commission (ICPC) has in the last 8yrs played energetic role in the fight against fraud in all sectors of the economy, in addition to the oil and gas crimes. A lot of money is being sniffled in and out of the country daily by unscrupulous government officials, both within the Military/Armed forces, and the civilian realms.

Before anyone can go into the oil and gas business, there is the need to study emphatically the pros and cons of the pitfalls and benefits. First the rule is to consider all known and unknown disadvantages, piece them, and study their uses one after the other. Upon the completion of your study, create a master plan of your own or those of your associates in order to not just enter the battlefield to win, but to be in possession of an empire of successes and men of great valor, with professional skills to diverse different means in order to remain in the tables of great minds.

As notorious as these oil and gas fraudsters are, once they have your money, scam artists pay themselves first, often using funds to pay personal expenses. In the end, only some of your money may be invested in an actual oil or natural gas well, or none at all. You must remain focus as an investor with the mind of lion, the heart of a serpent and the intuition of a Dove. You must prey on the possibilities of legitimacy and correct the abnormality that has engulfed this market for 6 decades now.

The true investor must take into cognizance, that if you think you’ve found the right oil or gas investment to “strike it rich,” consider this: it may be a scam. While some oil and gas investment opportunities are legitimate, many oil and gas ventures are frauds. Many of these schemes start in so-called “boiler rooms,” where skilled telemarketers use high pressure sales tactics to convince you to hand over your hard-earned money.

Below are some of the red alert techniques I was able to figure out, they are:

Red Flag Warnings
If you are considering an oil and gas investment, look for these “red flag” warnings of fraud:

· Sales Pitches Focused on Highly Publicized News. Scam artists read the headlines, too. Often, they’ll use a highly publicized news item, like volatile gas prices, to lure potential investors and make their “opportunity” sound more legitimate.

· “Can’t Miss” Wells. Every investment carries some degree of risk so you should be skeptical of any oil and gas investment opportunity pitched as completely safe. Fraudsters often spend a lot of time trying to convince you that extremely high returns are “guaranteed” or “can’t miss.” Don’t believe it.

· Unsolicited Materials. Be especially careful if you receive unsolicited materials about an investment. Simply ignoring investment-related “junk” faxes, emails, voice mail messages, and regular mail may be your best strategy. And don’t let a package full of colorful marketing materials impress you, even if it’s sent by certified or overnight mail. If you’re not going to research an opportunity fully, do yourself a favor and put any unsolicited materials in the recycle bin immediately. If someone calls to follow up regarding the materials, tell him or her “thanks, but no thanks” and hang up. [Hanging up is critical because scam artists often use scripted sale pitches to keep you on the phone.]

· Limited Opportunities. Scam artists often try to give you the impression that the ” opportunity” they are promoting is scarce, hoping you will hand over your money hastily before doing any due diligence. Resist the pressure to invest quickly, and take the time you need to investigate before sending money.

· High Rates of Return. Compare promised yields with current returns on well-known stock indexes. Any investment opportunity that claims you’ll get substantially more could be highly risky. And that means you might lose money.

· Tips or Secrets. A promoter may discourage you from talking about the opportunity with someone you trust, like a loved one, attorney or financial professional. If that happens, stop listening, and leave or hang up.

In the Nigerian Oil and Gas industry, investor must be very careful before investing in the industry. Not only are there sharks in this market, but also there are snakes and all varying personalities. You can hardly find doves with white feathers. As a distinguished mind of sharp and articulate business men, our company and those of similar features are out to create the best possible impression in the international community, so as to save Nigerian economy and polity of the mess already created by our moronic and thwarted Sellers.

To Be Continued

Written by
Carl Collins Ogunshola Oshodi
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