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FTEC official slams
governments on the rising costs of petroleum products.
“The different governments of major importing and exporting
countries of petroleum products are to blame for the current oil
crisis. These governments and their leaders are quite aware of
the total production capacities of all oil exporters—both crude
and refined products. Yet, they have not made the desired
efforts to put in place structures or necessary data that can
efficiently guide the citizenry and traders in the pursuit of
bogus offers. The result is that frustrations and costs
generated from a history of global exploitation of traders and
investors are passed on to the helpless consumers…No one, no one
is asking: Where on earth are these millions of product being
peddled on the internet and elsewhere? That’s, what is the total
quantity of product being produced in Russia, Saudi Arabia,
Nigeria, etc? Who, who are really behind these offers”
--Excerpt from an
address by Dr. SKC Ogbonnia of First Texas Energy Corporation to
investors and traders on June 6, 2008 in Houston, Texas
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